From Indian Institute of Industrial Engineering (IIIE) you have obtained your graduation and presently working in a company at Pune as a design Engineer. A good degree and good job. Congratulations to you.
Once you are in a job and further you want to pursue your further studies, first of all you should take a call on which area you are interested in. You have management jobs and you have technical jobs. If you slowly get into management jobs from technical jobs, the best option is to go for an MBA from a well known and standard institute. If you are interested in pure technical jobs you have to go for M Tech or MS. First of all you decide on the line you want to continue and then select the course.
MBA: MBA is a very good option. But your certificate should be from a reputed institute. There are many normal institutes which are offering MBA. But they are good for showing in the CV. But it will not fetch a good job for you.
Some good institutes which are offering MBA by correspondence.
1. Institute of Management Studies
(IMT) Ghaziabad: As per the reports from various sources, this is one of the best institutes for MBA by distance education. All the courses offered by IMT are recognized by the University UGC. In addition to MBA, this institute is offering 1 year PG diploma course also.
2. Symbiosis Center for Distance Learning (SCDL): A very well known and famous business school offering an MBA by distance mode. They offer an MBA and also a two year PG diploma course in business management.
3. ICFAI University: This institute is a very standard institute offering many specialisations and many companies consider the experienced people who obtained an MBA from this institute for lateral entry at senior levels.
4. Narsee Monjee Institute of Management Studies (NMIMS) : This institute offers PG Diploma, Diploma and Certificate program in management under distance education mode. NMIMS Global Access School for Continuing Education (NGA -SCE) is their distance learning school
All the courses offered by this institute are approved by Distance Education Bureau, UGC.
5. Prin. L. N. Welingkar Institute of Management: This is the best institute in Mumbai as per many reports. All the courses offered by this institute are recognised by UGC.
You can refer the websites of these institutes and get all the details. If you want to continue in the technical department consider doing MTech from good institutes that are offering the same by distance mode.