M.Tech. : the most conventional future of GATE qualified candidates. M.Tech. from IITs and a few good NITs actually give you deeper understanding of the subject. They will make you love (or hate?) the subject more than you did in your engineering. Moreover, a masters from a good college increases your chances of being selected for PhD at an even better college, in India or abroad.

M.E. / M.S. : mostly similar to the above point.

PGDM / PGDIE etc : some colleges also shortlist GATE qualified candidates for technomanagerial courses, NITIE Mumbai being a big name in that list.

PSU's : the most famous option in recent times. After PSUs started recruiting through GATE, the number of applicants increased substantially. Stable job, fat packages, good standard of living, you got everything.

A better degree than most engineers (who prefer not to go for masters) implies a few extra jobs for which you are eligible, but they are not.

A few colleges in Singapore and Germany also consider you for M.S. if you have a decent GATE score. However this option is not usually that talked about, and the information available online is insufficient, so you should double check before considering this.

Integrated Ph.D. : some colleges let you do an integrated masters plus doctoral programme, directly after your graduation.

Jobs in core research fields, that are the perfect for you, if you are interested in exploring and unfolding the unseen. Some top notch organizations like BARC, DRDO, ISRO, etc. recruit based on GATE scores.

Some IIM's also have a few seats for doctoral programmes based on GATE score. Again, this option is not that famous.

Dear Hasan Fatima!

Qualifying GATE in itself is an honour and adds value to your qualification. As you are an MSc Chemistry student It can provide you a chance to pursue PhD from top notch institutes of nations i.e. IITs that too with the fellowship of Rs. 25000/per month and at National Chemical Laboratory. After completing the doctoral program students are absorbed in industry, academia with very good pay packages or they can go for post-doctoral research elsewhere.

I hope it helps!

You will have a lot of benefits. Firstly you can get a government jobs with your rank.  You can even have you  m.tech/m.e and phd in iits with your gate rank. To know completely about the advantage of qualifying gate go through this artical by hindu which even provide sone suggestions to prepare :

http://www.thehindu.com/features/education/college-and-university/the-gate-advantage/article5408405.ece

Hope this answer helps you.

Hii..

According to me, GATE exam opens "massive opportunities" to everybody to have an education (masters or phd) from all "reputed IITs" to any Govt. College.

In your professional life while scrutinising your profile, always 3 parameters considered I.e. "degree, percentage and university / institution". That's the reason why M.sc people (sometimes) "preferred GATE" exam.

Thanks..!!