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Cons- no one cares about policy reports. 99% of policy reports are thrown into trash by the babus sitting in south block.
Exposure wise there are several think tanks and ngos, vidhi delhi, ikigai, trustbridge, nipfp which hire with bachelors degrees. ORF is another org, but harder to get into.
Ideally, law firm experience prior to joining public policy organisations helps a lot. Although, one might find it hard to quit a high paying law firm job to a public policy think tank (from financial perspective) without substantial interest. Further, there may be a glass ceiling in public policy organisations.
That being said, public policy work is indeed quite fulfilling, so it'd be a great idea if you enjoy researching for hours at end and writing.