Product Design Entrance Exam

Mentioned below are the best colleges for B.Des in product design:
1. NID (National Institute of Design), Ahmedabad
2. IDC, IIT Bombay
3. NIFT, Delhi
There are various premium tier-1 colleges in India who provide both UG & PG level in design field, it is conducted by IIT-Bombay every year, you have to give an entrance exam after 12th,
"CEED"
undergraduate common entrance exam for design which provides a B.design (4 years), and also you should meet some of their minimum education qualifications(MEQ), now regarding the syllabus, some key topics are:
1) Visualization & spatial ability
2) Observation &design sensitivity
3) Environmental awareness( day to day happenings, climate change, etc)
4) Logic &analytical reasoning
and so on.
Now regarding the colleges:
There is a list of good colleges at PG level offering good options, but since you are at UG level . the colleges are IIT -Bombay, Guwahati, NID-Ahmedabad, IILM-Gurgaon, symbiosis and DSK of Pune.
And, lastly regarding the career growth and prospects, yes, it has a good future ahead, lots of companies today are focusing much on their product design, aesthetics, since the competition is so high, some of the companies which recruit are mostly are from FMCG, Unilever, etc.

You can be a product designer in two ways. Either, you do graduation (B.Des) in product design or post-graduation (M.Des) in product design (PD). There are various government and private institutes in India, which offer these courses.
If after your class 12th, you get into NID for B.Des course (4 years), then your first year will be foundation program and from second year, you will get your specific disciplines (product design, animation design, graphic design, exhibition design, film and video communication, ceramic and glass design, textile design, furniture design, etc.).
During one year of foundation program, there will be several courses which will be common for all students. Total grading will be done for all students and a merit will be created. Also, you will be asked to fill a form mentioning your discipline preferences (1st, 2nd, 3rd, etc.) for all remaining years. As per your merit number and preferences given, you will get your specific discipline. The problem here is, if after one year of foundation, you don't get enough grades to secure PD as your final discipline, then you might end up getting other disciplines and not PD.
The second way is, you finish your graduation (10+2+4) (B.Tech/ B.Arch/ NIFT) and appear for M.Des entrance exam for which you will have to mention the discipline at the time of form filling, you can apply maximum for 2 disciplines. If you get through, you will get admission in the same discipline you had applied for.
I hope it helps.