Is there any future in automobile engineering?
Having said all that, it boils down to this - the manufacturing is not good in India, especially automotive. The R&D is consequently pathetic. Whatever brain we produce each year goes abroad - brain drain! Now what exactly are we left with in India when it comes to automobiles? Peanuts!
You can surely be employed as a worker in an automotive company in India but I guess it is not worth it. If you are qualified enough and know your skills and job in and out, your worth is definitely more and it can fully be realised in an environment conducive for development. Just working in an automobile plant does not imply the scope is good as I have a job. There are so many factors to be considered.
As I always say, do Bachelors in Mechanical and then go for MS in automotive abroad. Work and gain experience and then may be come back to India. There are far more opportunities - research opportunities, better environment, good funding, quality projects and research etc. available abroad when it comes to automotive. To summarise, after your graduation, if you go for MS abroad for automotive, you can truly understand the scope of automobile engineering.
A bachelors in automobile from India is good, but would only get you not-so-good jobs in automotive companies. If you think that satisfies you, if you think that is all there is in automotive, if you feel that scope of automotive is awesome because I have a job - sorry m8, you are sadly mistaken. I might be wrong too - depends on one perspective, how badly you want your passion!
I hope it helped. This was my view.