In India it's crazy because culturally they focus so much on the credential. It wasn't that long ago that if you were an Indian engineer and you weren't a graduate of IIT, you had no chance of working for these companies. The entire Indian hiring funnel is based on that system and it will be hard to change.

There is a a reason why people focussed on IITs. To be very clear, not every engineer graduating from IIT is good. But chances of finding a good engineer is probabilistically higher in IITs than other place. Also, when you are manager or startup, credential-led hire is medal of honour.