IIT

Surely merchant navy is the best options now
1. You are just 17 or 18 years young and started living a disciplined and a professional life. Life in Maritime institutes are semi-military.
2. You are getting a stipend of $500 to $700 per month in your cadetship (generally a cadet is 18 years young ).
3. Benifits of seeing the world gives far more exposure than IITs.
4. You are working with a professional team onboard which is far more experienced than you, so you learn extremely quality content.
5. Its a contract basis job, means the "ACE" is in your hands, when you want to work you can give your availability.
3. Very fast growth, as a cadet you earn around $500 per month but after 18 months of sea time you salary as a third officer is around $3000-$5000 per month. Some Master Mariners earn upto $22000 per month in special operational vessels, and all tax free income.
4. You can do side buisness such as owning a brand franchise. I know a master who is also a builder.
5. Non taxable income in merchant Navy while you have to pay taxes in corporate offices. Average package in IITs are around 23-27 Lacs per annum in india, well there are two or three bright students who gets package around 70-75 Lacs but that is not in india, they are placed abroad and the expense abroad are high. Always remember the more you earn, the more tax you pay to the government. But not in case of merchant navy.
6. You get time for your hobbies as the power of "when to work " is in your hands.
7. After retirement form sailing you can become a senior member of your company or a professor, you can also become a marine or an aviation pilot, yes you heard right, you can choose flying also. I have plenty of matter to write but I think that you must have got the right Idea. Have a nice day ahead.