For all practical purposes CSE = IT. The same companies (even the top companies like Microsoft, Google and Amazon) hire from both branches. Subjects - engineering subjects in India in 90% of the colleges are only good enough for the degree. And the difference in the subjects between CSE and IT is some subjects you study earlier in IT others from CSE will be elective and some other small variations that shouldn't matter from a career point of view.
Being from a good college gives you ONE advantage (and this is really important) - you have better companies coming for campus placements. And campus placements is 10 times easier to clear than off-campus placements.
So whether it is Computer Science, Information Technology or Information Science (in karnataka colleges) you are in for the same thing. Go to the college that has better placements in any of these branches.
EDIT: And don't believe this CGPA bull$hit. You only need enough CGPA to sit in the interview room (the cut off varies though from company to company and from college to college). After that its your own talent that takes you forward, not the marks on your report card.