Philippines

Of course, yes. But on one condition.
The Degrees will be recognised only if they are for enrollment of medical practitioners in the countries from where they are obtained because the union government issued a notification under Indian Medical Council Act, 1956. It is basically to recognise the post graduate medical degrees awarded in the countries like:
Canada Australia United Kingdom The United States of America New Zealand
The decision was to overcome the shortage the medical practitioners in India.
Note: The degrees will be recognised on condition that they are recognised for enrollment of medical practitioners in the countries from where they are obtained.
Foreign postgraduate medical degrees used to be recognised in India in the past, but now, the system has changed.
So, since the government has recognised foreign degrees, those holding them like you need not go through the screening test.
Usually, this test is conducted by the MCI. The recognition has come as a boon now to Indian students who went abroad.
As you are willing to acquire a postgraduate degree after you MBBS, you don't need to worry at all. Now, you can come back and practise.
One positive aspect is that those having foreign degrees would be able to practise in India. So, I think you are lucky.
Source: http://entrance-exam.net/forum/study-abroad/foreign-pg-medical-degree-recognized-mci-india-1374109.html#ixzz4eSheEAtv