Well the terminology on certificate or license is correct but its not a mislead as I wasn't addressing certification Vs License.Though you rightly pointed out its not a certificate.
Well i don't work with Chimes but my brother had done flying overseas so the reviews, but i have visited their academy and was very impressed. Well the license/flying does need to be renewed for DGCA certification as you would have a gap of 6 months of no flying, thats what happened in his case.So hope you answering this question w.r.t DGCA norms as I am refering to DGCA CPL.But India or US do proper evluation of completion time, placements (US/UK airlines don't take fresh CPL, Indian airlines do!), faculty, fleet type and fleet strength.But i surely feel now India also has quality insititutes and infrastructure
I personally feel this is the time to do the training as this is a long course , so you woud finish by 12 -15 months by when the market woudl ahve picked up and you would be amongst the few qualified available.
It like converting recession into a opportunity!!!