What are your goals?

Dear @duncan

My goals are: working in an international environment post graduation and ensure I move to the country with my family.

Regards,
Abhi

Take a look at
Best schools for international students' placement http://www.find-mba.com/board/41143

Abhinav,

I advice people to decouple MBA and Immigration.

If Immigration is your goal, then first look at countries that allow such path for Indian citizens. In my knowledge, Canada, Australia and NZ provide point based immigration program. Select the country based on what's important to you - climate, avg. salary, cost of living, annual household income, path to citizenship, ease of getting a PR, healthcare and education cost, visa of parents etc.

Once you become a Permanent Resident of your target country, then apply to the MBA programs of that country. Let's say you get Canadian PR, then apply to Reach. Target, and Safe schools there. No point thinking about Melbourne Business School if you want to live in Toronto, similarly no point thinking about acing the admission at Ivey if you dream of living in Sydney.

Thanks a lot @duncan and @ayon

I'd note that most world-class MBA programs won't care about the IELTS, but instead you'll need to take the GMAT or maybe the GRE.

Get into the best school you can in a country where you already speak the language.

Canada, Australia, and NZ are good suggestions per the above. But also consider the UK (which just re-implemented a 2-year post-degree visa), as well as Hong Kong and Singapore.

I don't want to discourage you, but at age 40, by the time you graduate you will probably be 43 (if we include another year for applications). At that age, it will be tough to get into higher paying industries (IB, consulting). If a high salary + immigration is your target, you might be better off getting a job in another country based on your vast experience in IT. For that, a technical masters (e.g. computer science) might be a better bet for employment in many countries' job markets. In fact, in the US, you would get 3 years work permit for STEM masters. In Canada, an MS CS from a top school would probably get you a well paid job (probably will be easier to get that job too, as there are so few MS CS grads vs the glut of MBAs).

If that's what the OP wants - just to move to another country to work - and has the faculty and resources to just do that - then going the skilled labor route could work.

I would say that at age 40+, the consulting and IB jobs, and probably many financial services jobs in general, are probably off the table. However, other post-MBA career options, in fields like marketing or supply chain, and maybe some specialized tech consulting, depending on what the specific background is, could be good, well-paid options.

In general without a highly specialized set of skills or network it tends to be very difficult to jump into a new country's labor market. An MBA in any case could, at least from a school with strong career services, could ease the way dramatically.

Blanket statement: try to steer clear of the US - the schools that do have good career services are very expensive, and their visa rules make long-term immigration difficult for most people.