My employer, Smith College, should hire a few score smart Indians to grade for their faculty and in return Smith should expect its professors to spend more time in the classroom.
High schools should similarly outsource their grading to Indians. Because U.S. teachers find grading so mind-numbingly boring, outsourcing grading would make teaching a far more attractive profession, thereby allowing high schools to recruit better teachers without necessarily having to increase salaries.
I think that outsourcing grading is a better solution than giving multiple-choice tests and using scanning machines. The feedback that teachers and students receive from such tests is pretty noisy.
On the other hand, I have a friend who tells me that many college-trained Indians, apart from graduates of the Indian Institute of Technology, are in fact very poorly educated.
In fact, higher education continues to be an American export. However, we certainly could make it more efficient by outsourcing grading functions. In fact, I think that the most efficient approach would be to educate foreigners where they live (rather than bringing them to the U.S.) using online education, supported by foreign labor to help with grading.