[SunilNagpal]

Hello sram,

If your aspiration is to pursue a hardcore research career, then:
Go for M.Tech -> PhD abroad.
or go for direct PhD abroad (GATE is valid for NUS, NTU, HKUST, DAAD)
Give a shot to GRE as well for some university in US/Europe.

If your aspiration is to get into the industry asap, then go for M.Tech only. Didn't you apply for Masters in IITB/IITK/IITD? If your results are awaited then prefer IITB/IITK/IITD over IITM.

Quality of research at IITD is good (you wont find yourself deprived of resources). There's a lot to imbibe at IITD. Being an undergrad, prefer only Masters in IITs (had you been a PG student, I would have openly suggested you to go for PhD in IITs).

Try not to jump into degrees, follow the proper learning curve, you'll enjoy and learn a lot.

Best wishes,
Sunil