My View...
Hi Shanx,
I agree with Ninja Turtle, even if they are recruiting only type rated pilots, they prefer to take the guys with some hours under their belt.
Do no despair though, they will eventually recruit fresh grad, but for the moment, investing around USD25K on something that will probably lead you no where at this economic climate is not the smartest option.
The other option is that, when you send your CV, state that you are willing to finance the type rating if required. That will be more advantageous in my opinion, instead of having say, A320, and you find out that the job opening is for a self sponsored B737NG.
I do not work in India, however, I know a person who is a fresh grad, and get hired by an airline for A320 job, only that he finance his own type rating AFTER successful selection. To me, this is far more advantageous.
Check your PM for details.
Good Luck,
SS