Canada

Deciding what to study is the first step, shortlist the universities and check the admission requirements.You must give exams like TOEFL or IELTS. There will be other university requirements as well.

try again with a good coaching Institute and if you fail again (I wish not) than opt for bsc and bms. good luck

First you decide which country you want to go. Then decide which course you want to . then look for colleges offering those courses. the way you had asked the question you are not prepared yourselves for Abroad study.
Depends upon your budget and what you want to learn search for courses.

Hi Anant,
If you have some work experience and planning to work in and grow your family business, I would suggest an MBA in Operations or Production Management. You can consider MBA in Entrepreneurship too. If however you are considering to work towards manufacturing transformers and some core jobs and planning for a research oriented career you may opt for a MS. Studying in US and Canada will help, and you can study if you meet the criteria such as GMAT or GRE and TOEFL or IELTS besides any other university specific requirements. Decide as per your career plannings. Best of luck.

40 percent is quite a low score to be honest. Foreign universities make sure they give admission to those students who are having at least 60 percent marks.

No one course is 'best' for everyone as the best course for you has to be defined on the basis of your academic profile. You haven't mentioned your educational background or what are your interests. So it is really hard to answer this question.

Hi, you can use a number of salary tools available online. One such is http://www.payscale.com/research/US/Job=Mechanical_Engineer/Salary
For the second part, please refer to the query I have already answered. Hope this helped.

Hi, you must have the skills, expertise, excellent academic records , communication skills, leaderships skills and significant work experience too. Learning foreign language will also help.