One question that I can answer with certainty is that being a graduate is not a requirement to be a flight dispatcher. With a CPL you have already covered the subjects of flight planning, weather and NOTAMs, so you would know enough to get into a dispatch department. As to whether the Jeppesen course is recognized in India or whether having it would help you in that country maybe someone who knows will help you. I went into dispatch area in UK because having CPL gave me enough knowledge to answer questions correctly when interviewed.