I havent heard of BFA in industrial design actually since the B.Des programmes usually cover it and not the BFA programmes in India. As for BHU, it offers a 4 year BFA but definitely not in Industrial Design. It is offered in 

Painting

Applied Arts

Pottery & Ceramics

Textile Design

As BFA is not offered in industrial designs, I cant specify any job opportunities.

You will have to apply for CEED exam. It is already conducted in Jan.

You can go through the official site:

http://ceed.iitb.ac.in/2017/

Hope this helps.

There is a tremendous scope and even greater need for industrial and product design. you will always be in high demands if your skill sets are top quality,
more industries in India are looking for such trained designers.

Here are some of the colleges name you can prefer for Industrial designing in Maharashtra.

Design Media and Edutainment Solutions

Aditya College of Design Studies, Borivali West, Mumbai

DYPDC School of Design, Ajeenkya DY Patil University Lohegaon, Pune

Suryadatta Institutes of Vocational and Advanced Studies (SIVAS Pune)

It is almost same. Both do the same kind of work. In fact, product design can arguably be considered a subset of industrial design.

Industrial designers take a useful product that serves a need, and makes it even more useful or more beautiful. They keep all our modern conveniences fresh and new, making them more convenient as time goes on.

Product design encompasses everything that is a product, including those things covered by industrial design. Product designers generally work to produce many of the daily products we use every day.

The distinctions don’t make a lot of difference, because both types of design have the same goal. Since Industrial design is more focused, many colleges have courses and degrees in Industrial Design.

Good Luck!