MBA/PGDM

Hello,
It really depends on where do you see yourself in next 5 to 10 years. If you are really bright & in top 1 percentile in India, you must stick to top B-Schools in India & you would be placed if you would be performing similarly high in academics. The kind of salaries versus expenditures in India is too pro-Indian thus for a skilled cream layer of India, opportunities are ever increasing, so is staying close to family, earning decent money & maintaining a high standard of living, if gives you work satisfaction in India, degree/education is worth.
On the other hand, as it's the era of globalization & the world is technically getting closer for which we need to have strong skills & networking which comes with pursuing a degree course abroad. MBA in foreign countries is all about "you" practically learning, exploring & contributing to your experience besides your peer group adding value to your skills. The western world has no dearth of opportunities for skilled people & can place you up and above the ladder. You may grow by leaps & bounds in less span of time & if you may be fortunate to balance between work & life, your family can enjoy your success with you.
However, answering your question, who will be preferred depends on who is hiring & what would be the task to be given. Of course, countries like USA, UK, Australia, Europe & Canada are the countries for higher education, but for the longer stay back & permanent residency, Australia & Canada will have an upper edge.