It primarily depends on your risk appetite. It is not about comparing two schools. I think you should be comparing two countries.
I will encourage you to get in touch with the Alums of both the schools. Find out more about the IIM Executive MBA( I am assuming that you are referring to the Executive Program) and understand the roles they are playing in the Indian markets. Evaluate what is it that you are keen on doing in the future.
If you are concerned with the Tuition/Loan of an expensive US School, I will recommend you apply for a Canadian Citizenship the moment you fly to UCLA. Let the clock of citizenship tick and take its own time. By the time you graduate from the school, you will be a Canadian citizen. In the wake of VISA rejection from the US, your plan B will be to work in Canada.
UCLA Anyday. Go for it. You cannot compare that exposure with what you will gain in Bangalore.
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Aarushi
MBA Consulting Team
PythaGURUS Education