I truly do not believe that a master's in design does much for your career, unless for the following reasons:
- you plan on going abroad to do it and get a job
- you plan on getting into teaching
- you plan on doing it from a tier 1 design institution in India like NID
Bonus reasons:
- you miss college and want to still have fun
- you have some extra money to spend
If you're talented, a master's in this industry does not add any weight to your profile (unless you do it from a tier 1, but again this is debatable).
If you're not talented, a master's may add some weight to your profile, for a while, until it stops working and then starts to look bad.