Rajat...
about 15 years back, I was in your same situation ...did go to the US on a J-1 visa program , got the FAA CPL/CFI and worked a year in a middle of nowhere FBO/school doing a lot of odd jobs including flight training(vaccuming, washing planes, refuelling, receptionist ) etc...
It was a similar situation on my return to India although there were about 1000+ unemployed CPL holders back then and no jobs...many gave up after a year or two but many of us just did whatever we had to ... pax handling, flight ops assistant , non-aviation job..whatever .But all those who kept their licenses current and waited did eventually make it .
All of my buddies who believed in it are working today , for some it took longer than others , one of our firstofficers got his Indian CPL two years before myself and had to wait ten years to get the flying job....are you ready to take that risk is the question???
The FAA Instructor program is not a waste,in my opinion and professional flight instruction can be a good way of developing skills that can go a long way in your future airline flying career. Monetarily , don't expect much but the experience and gratification you get seeing your student's first solo, first un-assisted landing, passing his/her checkride , making sense of what you explained to him/her on the ground and seeing them perform it .Some of your students might screw up as well and it will make you question your training methods and only add to your resolve to be better at it .Please for your sake and your students sake, Don't do it just to build some hours and get back to India and fly that shiny jet .
Also, the FAA flight Instructor rating is one of the tougher ratings to get .they give the instructor quite a lot of powers and they expect the candidate to be a responsible , safe flyer and mentor.Therefore, the initial flight Instructor checkride is usually performed by the FAA flight Operations Inspector from the local FSDO and involves a 2-4 hour oral exam followed by the customary flight check .the failure rate is on the higher side as well for this rating.
To summarize, will getting the flight instructor rating guarantee a job somewhere?
NO ... but it can only help in getting that job , u never know ,maybe the guy interviewing you might have been an ex-instructor himself...it will definitely make the candidate stick out from the rest .
Personally, my most enjoyable and fun flying days are my instructing days of past and the experience has only helped me in my aviation career... I still keep in touch with a few of my ex-students and I would'nt have done it any other way.....
Best of luck, rajat, you will most definitely need it....
masalama.