The previous answers here say a lot about IET's ranking! Of course, it doesn't matter. You'll get what you deserve.
And secondly, the atmosphere here is no less than any IIT or NIT!! This is so because, people who study here have gone through the 'IIT preparation phase'. So, they are quite studious and serious.
I myself have experienced this. While we attend college fests of IITs or NITs, we get to interact with students there. At the end, we find that they follow the same engineering culture that we have in IET.
So, ranking won't matter! What matters is your position and condition after you graduate..
Best of luck..