It's the caterpillar of one of the three moths commonly called "death's head hawk moths". This one is acherontia atropos.
It normally feeds on Solanaceae (potatoes, tomatoes, nightshade, etc) though your Chameli (jasmine) isn't in that plant family.
The moth is very large and has some curious habits. For example it will enter bee hives to feed on honey, and if it is caught it can make a "squeak" as an alarm call.
I have never seen the caterpillar, but I have occasionally found a pupa (large and reddish-brown colour) in the ground when harvesting potatoes in the UK.