no they are not similar. Btech is bachelors in technology and is an undergraduate degree whereas Mtech is masters in technology and is a post graduate degree. Btech is of 4 years whereas Mtech is of 2 years. you go for btech by clearing your jee mains and advance whereas admission in masters is based on your GATE scores.

I hope this helps. thanks.

Hello Mukund

In simple language Mtech is Master's which can only be done after Btech.

The main difference between the M.tech and B.tech is in bachelor we are not specialized in particular subject whereas in M.tech we become specialized in a particular subject. 

M.tech is more concentrated in research than B.tech. 

The first and foremost advantage of doing M.Tech is that you get time to think where things are going and how you can control them. Where do you want to go and what is your ultimate destination. You know the mistakes you made in B.Tech thus u can avoid them and improve to recover from them.