The present central Govt. is now serious of Naval vessel building at three of its centres on West & East coasts.Vizag,Kochy & Mazagon. If the present set up at the centre lasts for at least 10 years,then there will be a sea change in this sector,as India has woken up to the fact that the country needs more of naval vessels. It has to patrol near Somalian waters to prevent piracy,it has vital presence in South China Sea - as Vietnam has requested for the same.
In a year or two,it will have presence near about Chabahar harbour,coming up in Iran, not to talk of policing activities around Hambantotta & Gwader.
More will come up in the Arabian sea,as China is increasing its presence in East African countries also. India has the technology in making air craft carriers & one is on the anvil.
So all of these are in fine prints & the road map by the Defence Ministry is partly made up - I think from what we get from media.
EE/ME are two of the core engg. subjects which has an ever green field at any point of time.Bit it has to be studies at colleges which has the more standard faculties, along with labs.
The demand in NA & OE is slowly & steadily picking up in India, though it still has good demand in major yards in say Poland,South Korea,China,Australia.
We have a few players in the pvt. sector, but then they are still not a big name.Demands will certainly come up in the govt.sector. In case if by chance you don't get a placement in India,better to get experience for a few years overseas,& then come back to India.