Grenoble is a very good school, and is fairly ranked. Take a look at the various Grandes Ecoles rankings to see the average outcomes: I mention some on my profile page. They are fairly strong for those who speak French, and the school has a very good reputation with employers in France. In India, I double that the schools has much value. It will, however, we quite incompatible with the top Indian schools. Just compare the salaries with the IIMs at http://rankings.ft.com/businessschoolrankings/masters-in-management-2017

The REAL value is not the degree, but YOU. How the degree has imparted skills onto you to make you a better decision maker or a better manager than you were prior to the program.

1) Job prospect in France: Language & Visa. No one will dole out a job just because you did your MBA. Ask your prospective schools about salary/stats.

2) Job prospect in India: No one cares about a non IIM/H/S/W/LBS/Oxbridge. You'll need to put in lot of effort educating people in India about your school.
P.S I know student who went back to India in 2016 after doing his MBA from College of William & Mary in US, and he is earning less than 10L pa, that too after waiting almost a year and applying through naukri.com contacting alumni etc. You won't have any negotiating power should you go back directly after graduation.

3) I suppose it's known in the region. Famous firms recruit from famous schools.

4) Don't get caught in the marketing tools. Schools that have placement to show don't go on saying that their football team won the cotton bowl.

If you want to work in India - i.e. have something like a placement where companies visit campus and make 10-20L job offers on day 0,1, etc. Go for IIM, IIFT, SPJain etc. OR Go for LBS, Oxbridge, H/w/s/MIT.

There is no escape from competition and hard work.
You gotta have the brains and put in the efforts for a "famous" MBA if you want your post MBA career to be smoother. If you have a so-so career thus far, and a so-so GMAT + GPA you'll only get into a so-so program (unless your dad is an industrialist and can donate money equivalent of GDP of Tonga to them schools). A so-so program will most likely lead to a so-so post MBA career.

Thank you very much for your help !

Btw, in the FT MiM ranking 2017, GEM MIB is ranked at 22 avg. along with IIM-C and above IIM-B. In the FT MBA ranking 2017 too, GEM is ranked at 92 above the 98 rank of IIM-C.

Apart from this, what is the GLOBAL perception about the MiM from Nova SBE? It is one of the CEMS schools. How it compares against GEM MIB, a French Grande Ecole?

If you have to google the name of the school, then you can very well gauge the global perception.

Please think about rankings for a moment. Incae Business school in Costa Rica is ranked #89 while IIMC is #95. No Indian in his/her right mind would select Incae over IIMC. Wouldn't you agree?
The same would hold true for a Mexican selecting IIMC #95 over Ipade #97.

If you have to google the name of the school, then you can very well gauge the global perception.

Please think about rankings for a moment. Incae Business school in Costa Rica is ranked #89 while IIMC is #95. No Indian in his/her right mind would select Incae over IIMC. Wouldn't you agree?
The same would hold true for a Mexican selecting IIMC #95 over Ipade #97.

Absolutely.

But, I actually wanted to know about the EMPLOYER perception, not the people perception.

People like we aspirants will surely google the name (this may be the case even for the St Gallen University too in some cases which is no 1), but this may not be the case for some company like HSBC or Infosys etc., which are meaningfully international. I actually want to hear anything good/bad related to this aspect.

Any help is welcome ! :)

I think Incae is a better school than IIM-C, but there is not a global labour market. No firms hire for Europe in India, or for India in Europe. Indian schools prepare people for India's distinctive management style, and vice versa in France. Don't go to Grenoble if you want to work in India and do not speak French, since even a French firm would probably not hire you for an Indian position.

The FT does a difficult job well. The rankings to make some sense. But few employers need people for purely international roles. NOVA serves the Lusophone world, for example.

1), but this may not be the case for some company like HSBC or Infosys etc., which are meaningfully international. I actually want to hear anything good/bad related to this aspect.

I'm sure that HSBC recruiters will have heard of St. Gallen.

Really? Do you think HSBC recruiters in India have heard of St Gallen?

It is generally very very good idea to study in the country (and sometimes even the city) where you plan to live and work after your studies. Not only the university will be known to recruiters in the country, but also you can start networking in the area before you graduate.
Also, the university if bound to have better recruiter connections in its own country/city.

Edit: unless it is a super top school, and the name of the school is very well known in the target country, of course.