As a fresher, a food technologist can earn INR Rs 2 to 4 lakhs per annum (average) in India.
Within 5 years or so , you can reach up to 5-10 Lakhs per annum. There are various field of jobs you can go for, like management sector , food technologist, Technical head and many more.
Placements in college are very common for msc food technology. Many companies like Amazon, Nestle recruite students all over India among good college.
Hope it helps :)
All the best :)