Sericulture is a subject which deals with production of silk. It is more related to Commercial Biology rather than Chemistry, although Chemistry is required to be studied by Sericulture students. It is very specialised and consequently job opportunity is very limited. The job opportunities for Sericulture students are confined to only one industry.
On the other hand, a student of Chemistry can later shift to various sub-specialitites as per his/her inclination. The job opportunities are also much more and diversfied. As Chemistry is taught in school-level, Chemistry students also get many opportunities of teaching the subject at different levels.
However, final decision regarding study depends upon the inclination/interest of a student. If you have no interest in Chemistry, it would not be prudent to go for higher studies in Chemistry.
Caution: Explosive. Handle with care.