Hi 

when you Manipal ICAS with IITs, it is not a fair comparison. As far as superiority is concerned, IITs are far better than Manipal's ICAS program. But then the USP of ICAS is its twinning aspect, first of all Manipal University already has good tie ups abroad to sent you off for the last two years of your engineering besides this you also have the option of taking SAT an applying to other universities abroad through lateral entry scheme. Now you have two options, if you look for comparison then there is no genuine comparison between the two since each one has its own perks. But going by rankings IITs are any day better.