M.Sc Biotechnology

You have loads of options as a biotechnologist, both in India and abroad. You can explore your options in these fields: Bio-Processing, Food Processing, Pharmaceutical Research, Drug Research, Chemical laboratories, Waste management and a lot more. Some of the well known Bio-Tech companies include Amgen (USA), UCB (Belgium), Genzyme (USA), Biocon (India), MedImmune (USA), ImClone Systems (USA), Abraxis BioScience (USA), Dr Reddy's Laboratories (India), GlaxoSmithKline (India), Wockhadrt Limited (India), Krebs Biochemicals and Industries Limited (India), Nicholas Piramal India Limited (India), Wipro Healthsciences (India), IDPL (India) etc. Coming back to your question on skill improvement; post Graduation is already an added skill-set to your acedmic profile. However, adding more to it is always a bonus. So If you are looking forward to taking up any skill improvement, try to do so in the field of Biotechnology itself.
Good luck.

Since you are asking this question to us to give our preference, first of all I will say that you must check the job availability in both the courses, then think of taking the course. But, for me, I will say that it will be better to take Industrial Microbiology, because you know day by day technology is developing and, thus there will be high requirement of researchers based on industrial microbiology, though both the fields are based on research studies and they generally give emphasis on that only. So, there is a need of microbiologists in almost every nation. I don't think it will harm you, if you pursue M.Sc. programme in Industrial Microbiology.