Are you doing a MIM because you have less than 3 years of experience? If so I'd say gain 2-3 more years of experience and do an MBA from INSEAD/LBS.
On ISB, it depends on whether you want to stay in India or go abroad. Generally my experience with ISB grads (friends, seniors and leaders) is neutral to negative. If you're doing an MBA it's for the brand and network. You'll meet more or less the same kind of people in ISB so might as well go abroad.
As for Dubai. I personally don't see any long term growth potential in a region that got rich (and lucky) from oil and can't for the life of it build and diversify in an original value creation oriented manner. Kuwait might be a better experience.