Industrial / Product Design

Do, absolutely, go for it. It is much better than going for an MBA (unless the MBA serves a grand plan of yours). With an M.Des in hand, sooner or later you'll find yourself wanted badly by the industry. The Indian manufacturing/services mindset is changing, and we are moving towards more of a 'build a brand' mindset. The things that'd get us there are:
a) Greatly designed products and services
b) Great marketing
A design course would not just give you the skills that the industry needs, but also a way of thinking that unlocks doors.
I personally have not gone for a Master's degree after Bachelors in engineering, but being in touch with designers has made me hold them in high respect.
For entrepreneurs:
Design thinking makes you see opportunities, and that's great for an entrepreneurial mind.
For professionals:
The pay may be low (though that's changing too), but some of the projects you might be on will have a potentially great impact.
That said, it's really hard work being a designer if you're up for it and for a prolonged period of struggle, a world of wonder awaits you.

Hello,
No, you cannot take CEED just after class 12th. The eligibility criteria for CEED exam is:
There is no bar to either the age of the candidate or the number of times a candidate can participate. The minimum academic qualification for appearing in the examination is a Bachelor's degree in Design, Architecture, Fine Arts or Engineering from a recognized college or university of India.
All qualified candidates with a valid CEED examination score become eligible to apply for admission to various design programs under IITs and IISc. A valid CEED score does not, however, promise admission to the desired institute. Candidates are always required to appear for a second test known as the Design Aptitude Test followed by an interview prior to final selection by the respective institutes.

UCEED Exam was started in 2014 no such official books are available on Flipkart and Amazon but applicants can refer to the following Given books of NID Exam because the pattern of questions and type of questions are a bit: similar as per my analysis.
Know more about Exam pattern, Syllabus and Sectional Distribution of the UCEED Exam in detail
- NIFT/NID/IIFT Entrance Exam Guide 1st Edition by Surendra Kavimandan.
- Careers in Fashion Technology & Design by Student Aid Publications.
- NIFT: National Institute of Fashion Technology, Entrance Exam for Group A, B and C 2nd Edition by Verma.
- NIFT, NID, IIFT Entrance Examination 2016 (English) 7th Edition by Dharmendra Mittal.