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Thank you for adding the nuance to the conversation, although I would have liked some elaboration on that.

Indian IITs (and other double-I institutions or similar) offer official certificates after MOOCs [0] and they are valued in regular colleges, and engineering students are often mandated to complete a MOOC or two every semester. The difference is that the final test is a proctored, on-site exam. The tests are held in major cities across India, and also outside India in places like UAE, for example.

Most MOOCs in the NPTEL platforms are boring traditional lectures, but some are extraordinarily good and at par with what Andrew Ng, Alfredo Canziani, Karpathy, or Jeremy Howard can offer. For example: Discrete Mathematics from IIT-R [1].

[0]: https://onlinecourses.nptel.ac.in/

[1]: https://nptel.ac.in/courses/106106183