Time ? This is a business cycle and will iron itself out. I think when people think of recession, our brains immediately think about poverty, starvation and homelessness. I don't think that will be the case with these layoffs. There will always be orgs hirnig. Especially in economies like India. If you have the opportunity to go abroad and start a new life there/settle down, then by all means go for it. Your PG will help with your PR and land you jobs. Also, imo, PG rates in India are ridiculous. For the same amount or even less, you can pursue your PG in Canada. Also there are an abundance of scholarship opportunities.