In this insightful and alarming talk (~20 mins, also detailed in this pdf), Sheldon Pollock, professor of Sanskrit and Indian Studies at Columbia University, describes the deep crisis in the study of the classics and classical languages in India, and why we should worry about it. Six million classical manuscripts lie unread in archives across India but today, Pollock claims, there aren't any noteworthy Indian scholars of classical literature, no one teaching pre-19th century works in major universities, and no journals being published. Many Indians did great work in early/mid-20th century, but "India has not produced another DD Kosambi. There is nobody in India today who has the philological and critical ... edge that Kosambi brought." If you like this talk, check out this interesting interview with Pollock during one of his India visits.