Not much. The difference arises in what happens during and after the degree.

• For the two departments for B.Tech offered by IIST, the curriculum is similar to what you study at an IIT, the departments being Aerospace Engineering and Avionics.
• Faculties are marginally, or rather significantly better at IIST in these specific departments. Also many of the adjunct faculties from ISRO have stayed and mentor the students. So that's a huge advantage.
• Being set up for a very specific purpose, and with a vision, IIST attracts students with a predominant passion towards Space and Aerospace and Avionics, so you're more likely to find like minded people, if you're interested in these departments as well.
• In case of placements, you're safer in IITs. Because there, you can get a job in banking, finance etc as well. So that's in favour of IITs.
• Higher studies, if you have a general interest in Avionics and stuff, and you want to pursue higher studies someday, then you should definitely study at IIST. It'll give you huge leverage for getting an admit into higher studies.

Overall, if you have a strong passion for Avionics or Space or Aerospace Engineering, go for IIST.
But if you don't have a specific interest, then by all means choose an IIT to keep other options open.

IIST Thiruvananthapuram

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