None of the IITs now compete with international institutions. IIT Kharagpur is a great option only if your future plans include moving to India. IITs are not as valuable as premier institutions in the US, UK, France, and Switzerland globally. There are various reasons for Harvard to stay in the upper hand that Indian institutions, they are as follows:

• Academic excellence: IIT Kharagpur is not ranked as one of the top engineering institutions in the world in terms of reputation or ranking. However, when looking at all elite colleges worldwide, Harvard University came in second place, which proves its academic excellence, faculty base as well and infrastructural abilities.
• World-Class Faculty: Some of the top business professors in the world teach at these institutions. Harvard professors are not only leaders in their disciplines but also frequently carry out ground-breaking research that advances our understanding of business.
• Scholarship and financial aid: Scholarships and financial assistance are available for deserving students, despite the fact that Harvard's tuition is more than that of IIT Kharagpur. Even the costs for lodging are included.
• Strong Alumni Base: Harvard University has an extensive and powerful global alumni network. This network might offer beneficial contacts and chances for professional success. Rahul Bajaj, CEO of Bajaj Auto, and Rajat Gupta, a former managing director of McKinsey & Company, are notable Indian graduates of Harvard Business School.
• Access to Silicon Valley (Stanford) or Boston (Harvard): Stanford is located in the heart of Silicon Valley, while Harvard is close to the flourishing economic center of Boston. Both universities provide access to Silicon Valley or Boston. It is simpler to investigate starting your own business, participate in internships, and network because of this proximity to existing businesses, venture capital firms, and tech startups.
• Placement statistics: The average package offered by Harvard Business School is 150,000 USD per year, according to placement statistics of 2022.

So, in conclusion, selecting Harvard over IIT Kharagpur offers global recognition, a diverse learning environment, and access to a broad range of fields. However, financial costs and cultural adjustments are important factors to consider. Ultimately, the decision hinges on individual goals and priorities, weighing Harvard's prestige against personal circumstances.