Massachusetts Institute of Technology is not better than IIT Bombay but unique. I will tell you why it is considered unique when compared to IIT Bombay.
A few years ago there was a girl Malvika Raj Joshi, who was home-tutored by her mother and thus was rejected by IIT Bombay under the pretext that her schooling wasn’t sufficient for admission. The same girl was accepted into Massachusetts Institute of Technology. While other elite IITs rejected her because of a lack of proper school education, only Massachusetts recognized her amazing talents and decided to hone them.
She was granted admission to MIT based on her outstanding achievements at the International Olympiad of Informatics. MITs flexibility deserves applause for accepting such a student that has unique potential despite having no formal school education.
So in all these aspects, MIT is considered superior to even IIT Bombay as it gives chances to unique profile students.