M.Tech

So if you are already doing btech from iitb it is a good option as you get master degree in 1 year and then pursue higher education. On the other hand if you are getting admission to mtech it totally depends on college there are colleges which are better than iit also there are which are not .Also the fees of foreign colleges is way too high than iits so one need a scholarship too. But at the end it comes to level of college.

ISM dhanbad, IIT bombay, NIT surathk are undoubtedly the best. other colleges are mentioned below.
http://career.webindia123.com/career/institutes/list_colleges_Institutes.asp?group=212&cat=Metallurgical_Engineering_Colleges

Mtech can be pursued if you clear the GATE exam wid gud score. You may go ahead. Even masters in USA is gud option but fees varies around 40lacs for 2yrs.

Kjsomaiya and Vjti are best.

You need to apply GRE and TOEFl with scores of above 300&100 in both respectively. Sanjose university is amongst the gud institites in Usa. Apart from it Colorado Boulder, MIT, Oklahama state university, University of Michigan, Georgia Tech are best.