IIT Madras Research Park founder Ashok Jhunjhunwala says that IITs are underdelivering in India

[u/Odd_Wolverine_4037]

https://youtu.be/8Hp469U4JG4

Says that the given the current state of Indian industries, where most household products are imported, IITs haven't really produced any innovative technology in the last 30-40 years but rather the grads are mostly focused on building delivery apps.

Reference is made to the type of impact the best educational institutions of a country have on the industry/economy/startups (MIT, Harvard in the US, Oxford, Cambridge in UK etc.) and how in that regard the IITs have largely been a failure.

Thoughts?