I studied in a College in Malaysia. Personally for me the choice to study abroad depends from one individual to another. A lot of people in India believe that studying abroad is a ticket to a good career. But from observation its not. Most of the students studying with me went back to their country because getting a job is not easy. The important factor is how motivated you are about studying and learning abroad. It is challenging because you are surrounded by different people and there are strong cultural/language barriers. So you learn a lot.
But the good thing is that you get a lot of exposure. If a person wants to work abroad, I feel its easier to get a job because you get to show your talents to the industry. Currently I am working in China. I dont think it would have been possible for me to get this job if I had completed my studies in India. Its not because of the educational standard or anything. Its just because that when you are abroad you come across more job opportunities in foreign countries.