Germany - German economy is doing well . You may even find a job....but language is a major issue. You have to learn German ,if you plan to stay in Germany for sometime.
-GISMA's tie up with Purdue should help a little...but again you need to check if a GISMA degree will be valued in India,if you plan to come back . I don't think GISMA carries that much weight .
Singapore - Good opportunities for MBAs,but expect more competition here. Language not an issue. SMU is a good school, but it's not in the same league as NTU,NUS or Insead.
Between SMU Singapore & Insead Singapore...Insead. Insead brand is valued the world over.