If you ever wonder about this or believe in one way or the other, it may be worth looking at this wiki page : List of Nobel Laureates by University Affiliation.
Almost every other day I read or hear somebody comparing India’s IITs with MIT. As per my understanding, its ridiculous. As much as I love India, I hate this fake image. There is no comparison, other than IITs as the Best You get in India to MIT being one of the Best in the world.
I have no doubt, they are the Best in India, but they are not comparable on a world scale.
Every attribute I think worth of comparing two universities, IITs are no where closer to most American universities, leave alone MIT. In fact, they are even behind some of Chinese universities in most attributes.
Disclaimer: I did not go to any of those IITs or any American or Chinese universities. I studied in an NIT (previously called RECs) instead.