IITs and the IIMs: neither the best nor ideal

IITs and IIMs setup with the help of Americans in the 60s are not the best intuitions of learning that we can create. The elite that they are creating is much too imperfect and incapable of leading the society. Were the IITs and IIMs created for producing elite management cadres for the American market? Surely something is wrong, more so when, most IIT and IIM graduates are moving into marketing and not in the manufacturing sector for which they trained.