What's the IT job market like in Chennai right now?

I am an international graduate student in the US in a pretty good ranking college pursuing IC design. I am about to start my second semester here and this is the first time I am away from home (chennai) for such a long time. I had a great time in my undergrad in one of Chennai’s 2nd tier colleges, and by the end of it I had a pretty good final year project which my college even sponsored to obtain a design patent. This also helped me obtain a Phd program in a great college in the US. After my move to the states my life has only been downhill. I developed a bunch of skin issues, and even though I really like the program I have not been performing well in my tests and as a result of which now I have been placed on academic probation. Basically now my situation is that I cannot do the Phd anymore, but I can pay the fee and complete an MS program. The thing is that during the last semester getting good grades was my only goal, after I got unsatisfactory grades in my first few tests, all I ever focused on was on improving my grades. I did not have a on-campus job, I stopped going to the Phd lab, stopped socializing a lot and only focused on improving my grades. But no matter what I did, my grades only went downwards. I tried applying to switch my majors but most of the good programs are hard to get into and only take new students in the fall semester. I have been offered a few a courses on different focus areas in my own department but now I am filled with self doubt and have no confidence. I have never in my life put in so much effort yet get nothing back from it. My reason for writing this post is to know if coming back home would be a good option. Beyond all the ridicule and pep talks I will have to go through, I don’t think I can take this anymore. I am more repulsed to my program as I’ve now figured out working and living in Chennai actually means a lot to me and looks like IC design isn’t all the hots in Chennai. I am thinking of coming back and somehow try to build up skills and land a decent paying job in Chennai. I don’t have a lot of debt or financial dependancies yet so I wouldn’t mind not earning a lot for a few years. I just want to know what the scene is like in Chennai in terms of jobs and how I can best navigate the situation I am in right now. For context, I am 23 y/o, ECE graduate with only a bunch on research experience ( no real work experience) and have done nothing related to IT till now. Current chennai IT employees who have made a switch from a different domain and have made it, how was the experience and is it doable? I could use any advice you guys can give. I hope you all are having a better start to this year. Thanks in advance. Mods if you want to take this down joke's on you I will be taking it down the moment I stop feeling insecure anyway :)