Learning according to me has 3 components.
1. Knowledge and Theory: Knowing the skills of the trade is the first and most important step without which education cannot even start.
2. Application of the theory: One might have all the tools and resources that exist in the planet, but without knowing what to use and when, it will be a complete waste.
3. Reflection: This is the stage when a person critically questions and analyzes the new knowledge and tries to find the nuances (benefits and the limitations of the new knowledge).
Courses in India have a heavy emphasis on theory. The teachers try to the students as much as possible in as little of time. With the proliferation of the case study even application part is now being covered. However what India lacks is the reflection.
Ideally the projects/assignments which the students are supposed to do are for this purpose. However with a very hectic schedule and all the submission deadlines on the same day this objective is lost. Learning/memorizing the theory alone does not mean that the person has understood it. This is where the reflection becomes crucial.
The European method of teaching on the other hand understands it and designs courses accordingly. At ESC Toulouse, there are 2 unique courses Seasme and Grand Etrit.
These are short full time courses where real companies are contacted. These companies share the problems they face and over the course of 2 weeks the students work with the company officials to propose the solution. In a way it is like a short internship program, but more specific. Faculty members are attached to the student groups so that the direction of the learning and the momentum is always maintained.
Currently India has tens of thousands of students graduating every year, but very few of them are really employable. I would really like if business schools in India update their curriculum and also introduce an Indianized version of such a program.