Hey there

NIT is a national level college and run by government of India thus it has much higher value than various other Colleges. Due to its tag of NIT they get central fund and thus facilities here are also of national level and latest equipments are installed in these colleges. Also placements are good in most of the NITs. But it's not that if you don't get NIT you won't get success students get success even from normal engineering colleges which are ranked lesser than NITs because at the end it's all about your 4 year devotion.

Good luck