Both the institutes are government institutes and provide best in class education when it comes to Fire and safety engineering. They offer good placement opportunities in government and private organizations with good packages. However, NFSC Nagpur might be the choice to go due to the following reasons.

CUSAT:

Let’s discuss CUSAT first. 

• The institute offers both fire and safety which includes more topics related to engineering courses which are very useful from a placements perspective. 
• CUSAT is both AICTE and NBA accredited so has a good curriculum.
• One of the downsides is that in CUSAT fire drills do not take place regularly which is required by some companies during the placement process.
• Even though it is a very famous college in South India and has a good placement record, the infrastructure is a bit old compared to NFSC Nagpur.
• The competition here for the Fire and Safety course is more and you need to have a good rank in the CUSATCAT.

NFSC Nagpur:

• NFSC Nagpur has a course curriculum that is in line with the world’s top institutes with more focus given to physical standards and course syllabus.
• The institute focuses more on the fire drill process and physical fitness along with the academic part.
• It is a central government institute and provides the best placements for its students. The institute's alumni hold top positions in top fire organizations in India. The value of fire engineering here matches the IIT tag when it comes to fire engineering.
• It is very much necessary to have proper time management to align yourself with daily routines. All the hard work you put in will be reaped as many top companies including PSU’s come for recruitment here.
• BE in Fire course is a newly added one in this institute and competition is a bit less. The first few batches have passed with flying colors and have good placement records with the average package being around 10 LPA.

Considering all the facts above it is safe to say that NFSC Nagpur is the best option of the two. It is a central Govt. college under the Ministry of Home Affairs and has a rich alumni network in major public and private organizations.