kkay
kkay - I'd suggest looking for current job vacancies first before deciding what to do. See what they require of you. I would imagine that most will say; "5 years experience in operational airline". If this is the case then forget the Licence or qualifications for now. Go and get any airline job you can get. Sit it out until you have at least 2 years experience to put on your cv, then maybe consider getting a qualification (Msc or FAA Licence). Look at it as a long term plan. The Ops Dept in India my not require qualifications or experience. All the training my be given. Some airlines may pay for you to get the licence if required.
Just my opinion....