There are other factors to consider when comparing Indian schools to other programs abroad. Business schools in the U.S. and Europe, I think, will offer a more diverse student body and faculty. Plus, you will live in a different country and gain so many memories. It will also allow you to have a more international resume - always an advantage.
Indian schools probably offer something quite similar to the topics mentioned above. And if you want to work in India, then the top schools in that country certainly would help your future and career quite a bit. You can also build a strong domestic network with these schools.
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