I taught at IIT and I know we have the best students. IITs were not started by Indian Government, rather by Public Law 480 form USA (They gave wheat during our drought days, and invested the money to start the IIT Kanpur, similarly IIT Delhi by UK, IIBombay by Russia and so on). Once they left the control to the Indian Government, every started failing. No IIT has world class research labs and facilities. The faculty have no time for research. Until now most industries never supported IITs in any big way. Next, faculty. The original directors of IITs traveled to the various parts of the world and begged the best to return. Nothing like that takes place now. With poor salary (controlled by teachers/ Govt. unions, a mere Rs 30,000 starting salary never gets any best from the West. After paying 30% income tax, bribe etc., nothing is left for future savings. So, world class faculty is not returning to India. So, I and others left and are happy that you can all have India for yourself. Those who are returning have just middle class aptitude and aspiration and cannot survive in the West. Less than 0.005% of the IITns and IIMs have become entrepreneurs in the USA. 85% of the IITians and IIM graduates live in India with a middle class life making money.
So, unless the IITs pay 2-3 lakhs per month salary and bring the faculty with cutting edge technology knowledge and experience, HR ministry can open 1,000 IITs and IIMs, but they will never create intellectual properties and the