Get a degree first and have a back up plan..Nobody can say if its a good time to start your CPL training..but you should know that it would require an investment of over 30 lacs at least and thats just the training part. If you do decide to go ahead then please please please do it abroad..preferably on Canada or Australia (IGRUA is the only good flying club in India).
This industry is like a sin curve it goes up and then down..The job market is down right now but it just might pick up soon..but remember there are about 4-5000 jobless pilots so they are already ahead of you..there are no easy answers..its tough to say a yes or a no..it all depends on you and your financial situation.
When I got into flying I had a lot of dreams but they were all shttered when I came back to India..there is just too much corruption and nepotism..its all about connections..so you need to be metally prepared to swim in some crap.
Dont go through any agent..contact schools directly. And dont fall for that quick 6 month CpL thing..Its impossible to do it without faking your hours or without compromising on your training quality. It will take atleast 1-2 yrs.
The subjects are not very tough but then they are not easy..so you need to be on top of of your game study wise.
There is a lot of cut throat competition and yes it has become a rat race..
Remember Trust No One in this Industry.