Game Design and Development

Gaming is still a large business in Software industry. There are lots of firms specialized in Game Software Design, Development and Testing internationally. Lot of big firms outsource game testing to Indian companies. As per my assessment Game Design, Development and Testing has lot of scope.

It is surely a good one , but not very sure if we can call it as among the TOP.

It's not necessary that a institute should be specialised for both Software and Game development.
Please be specific what exactly you are looking for and what's your interest to do.

If you are doing a bachelor's its an under grad degree and will be considered as professional degree so you will be able to do your master's in the same. Diplomas are different.

See, always I would advise before getting into game designing or animation, you need to analysis yourself how creative you are in thinking. Hope you got the answer.
School of Media Design,Arena, MAAC are renowned institutes.