Helpless situation. Confidence is shattering day by day. Fellow Indians please help!!!!!

Hello Experts, I am working as a full-stack engineer for a startup in Bengaluru (India). Here are my details YOE: 3 TC: Cash: 16.5 + Paper stock Designation: Full-Stack Developer College: Bachelors of Engineering in Computer Science & Engineering from a tier 3 no name college I am in the middle of a weird problem (even I am myself surprised by their behaviour). This is going on for 4-5 months now. One of my colleagues has already resgined because of this and he said no to every retention offer. He just wanted to leave the company immediately. So here is the issue: I started my career with TCS and was on my route to join SAP labs however, this startup made me a much better offer than SAP labs and I joined them as a result. The major reason for joining them was I knew I would learn a lot more in a startup and hence, I am here since last 2 years. The startup closed a major round of funding last year and started hiring aggressively. Surprisingly every single job posting ever since then had "Only IIT/NIT/IIIT/BITS" written on them. The interview process was reduced to a joke for example: In my case they had dedicated rounds of interview but now if you are from IIT you can just get in without any interview or in their language "formal discussion". They only have "formal discussions" with top college grads no interviews. Many such guys have joined the company. Now here is the problem, they don't do any work. Literally nothing. I mean it for all of them. Many of them are not even software engineers, they have never coded before. They were working in sales or marketing roles previously and have joined here solely for salary hike and the ones who have coded have just coded for namesake. Everytime some work gets assigned to them "their grandmother gets sick" and finally when they don't do anything their work comes back me or a few others (1 of whom has left) and after finishing the work we don't even get credit for it. The CTO only cares about praising the IITians when it's us who are doing the work. For them HR doesn't exist. They can come anytime, leave anytime. They are enjoying benefits which we haven't even got in past 2 years. They get unlimited leaves (Paid time off). The worst thing is when they see us performing better then them. They start bringing JEE ranks, KVPY ranks, NTSE ranks, Olympiad this, Olympiad that and even the CTO is busy discussing the same. How can you bring up JEE ranks in the middle of tech discussions when you have nothing to say? In meetings the CTO solely focuses his attention on them and when they don't deliver the solution the focus comes to us like we were the second choice. It's like he desperately wants them to succeed. Surprisingly the IITians I have met before were not like these. They were really nice and hard-working. Not sure where these guys have come from. I asked one of the guys to write more test cases and increase the code coverage. He refused on my face. I open a pull request for review and it has still not been reviewed. It has been 12 days already. The guys (team of 4) have not been able to complete a simple search feature for 2 months now and now the CTO was again saying he will assign it to me as one of theirs "grandmother is not well". Recently, an investor visit happened and the CTO didn't even introduce us to the investors. He introduced all of them and in introduction he says the name of their college first (with a very strong emphasis) rather than what they are doing in the company. There are office outings where we are not invited as it's only for them. I feel I won't grow in this company at all but I contacted my friend in Urbanclap (another Indian startup) and he too is facing the same and telling me the same will happen everywhere in India. He is leaving India for Masters in US. What should I do? 1. Confront the CTO about it 2. Tolerate it and ignore it. The bias is just too much and I am being overworked and not even appreciated. 3. Quietly leave like my friend left. But if the same is happening everywhere in India then what's the point of working in India (for a shit college grad like me)? Does the bias ever stop? Will it happen in FANG or similar companies as well? I just want to work in an environment where only performance and skills matter. Which company in India can provide me that kind of environment? I know in US it's all about talent but I am in India and what I am now facing is that if you are not from IIT/IIIT/NIT/BITS you are a third-class citizen and don't deserve anything no matter what you do. It's affecting my confidence. Please tell me how should I handle this situation. Can people like me even get successful in life in India or we need to take the GRE route at all costs and leave India. I can't afford US masters at all as my family needs my financial support let alone me asking support from them :( Thank you