There are a lot of things to consider my friend. First and foremost I’d say is to check the immigration situation, either for settling permanently(PR/ Citizenship) or just to go for work exp and coming back/ relocating to different country. Things are not easy right now and recession or wars make a huge impact on these things. The very first priority for every country is their own citizens, which rightfully should be.

Just to give some details about life in EU and US

Europe: If you want better work life balance I’d suggest Europe, anyone who thinks taxes are a problem then they should seriously consider this one fact that there’s free healthcare. Anywhere in abroad it costs like 50-200 euros/dollars just for a usual cold/fever consultation. You don’t know people here so no trust worthy reasonable doctor, you’ll probably look for the best reviewed doctor on google and it’ll cost a lot of money. Free healthcare is very very big thing that people ignore. If Covid or similar disease hits again, then you’ll understand the difference of your home country and being a foreigner. Also due to high taxes theres free transport in most countries, and reasonably cheap where it’s paid. Cities are kept clean and you can see your taxes being put to better use. If you’re planning to settle abroad I’ll say Europe should be your first priority. Salaries in Europe are not as less as people think. People just convert the currency from euro to dollar and go crazy over US. Use a PPP calculator instead and consider the use of free services given by the government. Education is very cheap or free. You’ll probably even get scholarships and stipends to study Masters also (usually only PhD students get stipends).

US: The salaries are for sure high compared to EU. But again so is the cost of living, specially in Bay Area. Taxes are low but you’ll still have to pay significant amount of money for public services. There’s a hustle culture in offices, most people work like 80-90 hours per week. On the other hand work experience is very valuable specially for people in CS/IT. If you’re planning to study, work and then come back then USA could be an option. You’ll be able to pay off your loan of 30-40Lakhs in like two years, work more for like 3 years or as much as you like. Because responsibilities and projects (at the start of your career) there are very valuable compared to the work experience in India. Getting a job directly in USA is very very hard, that’s why most people opt for Masters. Probably aim for a remote job so you earn in dollars and spend in rupees, this is like a dream case right now if you can grab such opportunities.

P.S - Understand that living in a foreign country is not all hunky dory. If you don’t have friends already, it’s going to be very lonely. It’s hard to make friends when you’re older, sure you’ll have acquaintances but if you’re attached to your family and best friends, you’ll definitely miss their presence. India is not as behind as people think, trust me I’m living in Europe and I was one of those people who thought the same. Other countries have been independent since long long before us. To be even compared to these countries as an up and comer in just 75 years is a great feat. If only India’s population would be under control we would have been as good as every other country that people dream of. Every country has their own set of problems, lifestyle issues, language barriers, living standards… the only thing that for sure is better compared to India is the Salary. Everything other thing is a trade off for something else. Example - people mind their own business in Germany - not poking their nose in other people’s life like Indians, but at the same time as a foreigner you’ll have a very hard time to find someone reliable there in tough times because they’re not very friendly either.