Hello Aswin, 

Aerospace Engineering is considered as costly branch of Engineering in all colleges across India due to its fee structure.

Travelling via Air is tripled in India from past 5 years. This industry is growing at faster rate replacing old classic and costly airlines for average indians.

One example of that can be taken as JET airways shutting down few days back, it was clear effect of Spicejet and Indigo introducing low fare prices.

Now that air travellers are increasing and old claasical airlines going away, it will increase its scope in few years, hence the demand of Aerospace engineers. 

Now coming to salary part, it varies from Airline to airline but one can expect a starting salary of 8+lpa.

Hope this helps, if you need more help please comment below.