Hi Bala,
If you get your FAA licence, you can use it in India after giving an oral exam with a DGCA official. Check out the link for this flying school.
Mahendra School of Aviation-CPL
They have explained how you can get an Indian licence if you have an FAA licence. Plus if you have FAA licence, you can apply at a lot of other places, like UK, other gulf countries besides UAE, Singapore, China, Australia etc. Even if you decide to come to the gulf when you think there is a good chance you'll get a job, it is not a problem converting your FAA licence to a DGCA one. Check out this link from Sheffield
FAA Aircraft Dispatcher Certification School-Q & A
You may say they are biased, but even my instructors at EAC agreed with them.
And trust me, EAC is not a good school. I can PM some email adresses of some of my classmates if you want and you can ask them. They will tell you the same thing.
I'm not a detractor, I'm just a well wisher.
Take care