India, Oct. 26 -- For a long time, Indians have been among the largest cohort of international students enrolled in US universities. Many of them eventually found employment there, too. The numbers kept increasing over a long period, partly also reflecting the rising aspirations and affluence of Indians back home. The trend, if latest numbers from an HT report last week are any indication, seems to have peaked and is now falling sharply. Both supply factors related to US visas and demand factors in the larger job market are driving this trend. The Trump administration has enhanced scrutiny of visa applicants, which has led to higher rejection rates. Appointments for visas, too, are becoming harder to get and taking longer. Many proposed policy changes regarding the duration of student visas and eligibility for work after receiving US degrees are making the US a less attractive place for international students. Visas are not the only headwind against Indian students going to the US. Technological disruptions such as AI are threatening many entry level (but well-paying) jobs in the corporate sector, which has diminished the demand for courses such as MBA and even law degrees. Many business schools in the US have been offering steep discounts on their courses. The continuing trend in falling arrivals of Indian students to the US is symptomatic of two structural disruptions in higher education: a decoupling between education that guaranteed eventual immigration and falling return on investment from extremely expensive degrees. Indian students are not the only ones to face this disruption. Western universities, which have become used to higher fees from foreign students, are also facing the music....