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Here we go again. The usual qtiyas on LI dissuading people from doing LLMs.

There are people with both Indian and foreign LLMs who are doing well in India. Some are partners, some are Senior Advocates, some are generally counsels, some are bureaucrats, some are academics, some are activists.

Do an LLM for whatever reason you want: whether to party abroad, or do some in-depth research, or learn about a new field or build a specialisation, or just bide time. At the end of the day, it's your hard work that will make you successful. Even starting law at 40 years and working hard for 5 years will yield more success than starting law at 25 and not working hard for 15 years. The one exception are nepo kids, who can be successful no matter what, but there's enough space in the profession for non-nepo kids too.

So just follow your heart and work hard. Good luck.
It depends on where. You should specifically ask about the faculty who teach and mentor the LLMs. From time to time, great professors take an interest in the PG programs and put effort into it. So you could end up learning a lot. But recruitment and internships are usually handled by students, and that's LLBs so it's probably harder getting them to be inclusive. If you feel that you already have the networks to apply for firm jobs after, it may not matter. In that case you can focus on getting a great education (which may or may not help you in the firm) and then on the next steps.