IELTS

IELTS and TOEFL are English Language exams to show your proficiency in the language where as GMAT is the competitive exam required to get admission abroad. If you want to pursue MBA abroad then you have to sit for IELTS or TOEFL as per the university requirements even if GMAT is optional.

Check the British Council website, they have free online preparation and sample tests via MOOC. See here
https://takeielts.britishcouncil.org/prepare-ielts/free-ielts-online-course.

Take the IELTS though TOEFL is also accepted, but in Europe, IELTS is preferred, also accepted in Canada.

You need the following:
1. Acceptable score on a Graduate Management Admission Test GMAT or the Graduate Record Examinations GRE that has been written in the last five years.
2. IELTS/TOFEL
3. A Bachelors degree in Business Administration BBA or Commerce (BComm) or equivalent.A minimum of two (2) years documented professional or management experience.
GMAT and GRE scores must be no more than five (5) years old. The Admissions Committee looks for scores that indicate strength in the verbal, quantitative, and analytical writing assessment portions of the exams.

Hi Shivam,
Some of the best are:
Moscow School of Social and Economic Sciences
St Petersburg State University
Graduate School of Management, Lomonosov Moscow
State University Business School and IMISP - International
Management Institute of St-Petersburg.

Hi Shubham,
An overall score of 6.5 with no module less than 6 is typically required for admissions into PG courses. You may further check college specific requirements on college websites.

Since you are an international student, you are going to have to pay out of state tuition rates for whichever school you attend. So, your tuition is going to be high. For engineering/business that means, your tuition will be in the ballpark of $35,000 per year. Your yearly cost of doing a Masters would be around $40,000, which includes your accommodation, tuition, and other expenses related to the course.
Regards.

Most of the German and Canadian Universities require minimum of 6.5/9 in IELTS and sometimes even minimum of 6 in each section
Try to score at least 7/9 in IELTS and it's not that tough to score.
Regards.

Hi Mohitha,
Both are widely accepted but I will first ask you where you want to study, certain countries have their preferences.