See I have talked to my friends brother who did his masters in industrial from ISM and currently working in a big multinational company n a decent package. So according to him yes there are good scope if you managed to have decent grades in your masters program and good with communication skills. So yes you stand a chance and option of PHD will be open to you always. In fact placement of industrial in ISM are better then many IITs bigger then ISM . So all the best
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