M.Tech Scope

Here are the following options:
1. You can go for further studies i.e. Ph.D which is now of 3 years only (in most of the colleges).
2. You can go for the teaching job. You can go in many colleges and become the assistant professor or you can get the teaching job and can continue your Ph.D within the college only. This is the most efficient option because in this you can continue your studies while working.
3. You can join government sector organisations like ISRO, DRDO, etc. These are the big government organisations. You have a benefit that you can fill the form for both vacancies (B.Tech students and M.Tech students).
4. The last option is that you can go for MNCs. Here you can have many options too. You can also go in the IT sector. In IT companies, there is a need for electronics engineers. For more job offers or vacancies, you can check naukri.com or sarkarinaukri.com.

Yes, you are eligible for Ph.D after completing your M.Tech. Please check for your eligibility from the criteria mentioned below:
Eligibility for Ph.D. in Physics:
1) M.Phil. Degree or M.Sc. In Physics or Material Science
2) A minimum aggregate score of 60% or equivalent CGPA (relaxed to 55% or equivalent CGPA for SC/ST) at the level of post-graduation
3) Qualification of any of the following national level tests in Physics in the last 2 years from applying to the course:
4) CSIR/UGC-JRF or CSIR/UGC LS with rank less than or equal to 200
5) JEST/GATE with rank less than or equal to 300. Selection is based on the shortlisted candidates performance in the round of personal interview. Regards.

There are many reasons why some students do not register for a PhD and favour an MPhil. Firstly, an MPhil is sometimes the name for a one-year Masters as is the case at the University of Cambridge. In some education systems like that of Pakistan, the MPhil is a research degree which includes a strong coursework component, which is often a requirement for a PhD applicant. For some disciplines, notably in the humanities, the MPhil is regarded as the most advanced Master's degree.
Other students, unfortunately, do not at the time have the financial means to undertake a PhD but still want to pursue a research degree. Some choose a one-year Masters by Research, and some choose an MPhil which will normally take two years. Sometimes, and although rare, a research degree can be for one's own interest and an MPhil fulfils that personal ambition without the need for PhD.

There is a wide scope for the Aircraft Maintenance Engineering (AME). The aviation sector is developing fast in India. It earns huge profit, so there is huge demand of aircraft. As a result, the companies are looking for young, energetic and dynamic Aircraft Maintenance Engineers in India. Nowadays, people prefer to travel through aeroplane than ship. So, the number of travelers who are traveling by flights are increasing at a faster rate. This makes a huge demand of new aircraft to compensate the huge traffic at airport. Apart from few Indian companies, foreign companies also jumped into this sector and earning a handsome profit.
Check the link provided for more detail.
https://hindustanuniv.ac.in/m_tech_aircraft.php