Germany

Manufacturing, in general, is also on the decline in the USA for the last 2 years; so I would recommend being careful about the field that you opt for MS in. Anything that integrates mechanical and the computer has a great scope (mechatronics etc.). While fields like manufacturing will be difficult. Cost of educations is high without scholarships. Quality of Life depends on your industry and location. For Indians, it is great to live in areas like California, Texas, Georgia (with good weather etc.). Germany is good for automotive and manufacturing provided you are able to learn the language and be fluent. Work hard and do as many internships as possible during your course to maximize your chances. The economy is smaller than the US, so it may be more competitive to get a job. But once you get a job it is easier to settle down with the immigration process. Cost of education is very low compared to the US. Quality of life is better than the US.