We definitely need more of such institutions in our country to carry forward the gains so far in today's knowledge based economy. A case to the point is the US education system. Each university has the autonomy unto itself to decide its own structure and education policies.
I feel that besides setting up more IIT's we also need to allow these institutions more leeway in managing the education they provide.
The wider base of such reputed institutes, the better will be the quality of the higher education in our country. Though, with this rosy picture comes the caveat that the quality cannot be allowed to dilute.
