Just putting out my 2 cents here.
@Vanadium 50 I think you're misinterpreting OP's intentions in some of these posts with no fault of your own.
You mentioned that being coached for a single exam is easier than developing yourself to be a good fit for a school like MIT. This may appear so-but having been through the process of preparing for IIT's myself and knowing friends who have gone to pursue their undergrads at MIT and Harvard who have prepared for IIT's as well I can say that it is a much greater ordeal than someone outside of India realizes.
It's 8-10 hours of studying a day for three years straight (includes weekends) for the average student to be able to enter IIT Bombay in a preferred field and even with this amount of preparation-I know someone (who is now at Harvard studying engineering) who did not get into his preferred branch at IIT-B. It is ridiculous and counter-intuitive that this happens since their world rankings are far apart but it does happen and this is the bleak reality of competition in a vastly overpopulated third world country.
A vast majority of people in India don't think about the US or MIT even if they're more talented than some of their western counterparts because if they focus on that and lose out on precious days of preparation for the IIT- while their chances of being admitted to those top schools in the US are a gamble in the first place; then they're essentially left with nowhere to go. The other institutes in India are a sad joke, and the other institutes in the US aren't affordable for most of us even with scholarships unless it's MIT/Harvard/need-blind.
This is the reason that people who've been through this immense pressure often manage to shine after leaving their home country. But apart from all those discussions (which aren't very helpful or practical), OP should note that the current google CEO is someone who despite his hard work wasn't able to get into what would be considered a reputed branch in an IIT, the current Microsoft CEO wasn't even able to get into an IIT in the first place. The options aren't limited to IIT or MIT, like
@StatGuy2000 and others have tried to say-just do your best, consider Canadian universities (these may still be too expensive) but one university in Canada (Memorial University of Newfoundland) actually has an amazing engineering program with the lowest tuition in Canada with lots of scholarships if you do well in your 12th grade (which should be easy if you've prepared for JEE). It's not MIT, but the opportunities they provide are on-par with IIT's (don't go based on world rankings-they aren't always a good indicator of a lot of important things).
Even if you don't get into anything decent at all (which I know we Indians are trained to obsess over, for survival reasons) the truth is you still have great opportunities if you just keep learning whatever you're passionate about and at the end of the day that's what will count. Never mind what happens.
I admit that I've way less knowledge about these things than
@Vanadium 50 or
@Dr. Courtney but I'll say this-The struggle back home is real but just keep your focus on doing your best. There's already plenty written about the questions you have and it's best to just look at them instead of sparking too much debate over these things.