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I think the fact that Narayana Murthy's son couldn't get into IIT-Delhi computer science , and therefore HAD to go to his SAFETY college - CORNELL UNIVERSITY ...should be enough to prove my point
Frankly speaking...IITs(Mumbai,Delhi and 1-2 other) are better than any university in the world in terms of education. If you would google many of the IIT alumni, you will find that people who went to foreign for further studies after graduating from IITs were cruising through the course in their respective universities( take the founder of Sun Microsystems). Although, it is true that IITs are very far behind many foreign universities in terms of global rankings ..but that is because ..IITs don't admit foreign students,low funding for research and a few other things ....but the quality of students(entrepreneurs,inventors, scientists,engineers) they produce ,are in a league of their own
many kids from my school(one of the most reputed in India) who are many times smarter than the rest don't apply to foreign universities because they can't afford them. So ...does that mean they aren't worthy of going to the top universities? Of course they are ...but the thing is they can't.
And if u want to compare the stats regarding job security,career and research options, I would advise you to first check the list of professors and pay close attention to their alma mater working at Harvard University(world ranking-1) ....a lot of them are Indians ...and guess what....nearly all are graduates from IITs
Undergraduate students in Engineering do not need to be unduly impressed by faculty accomplishments in research since it does not always turn into great teaching.
For undergraduates in engineering, IITs are much harder in competition and required learnings than most elite schools in world.
Have you looked into MIT faculty to see how many graduated from IITs in each department?