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Hi,
If you are planning to pursue your MBA abroad right after completing your Btech, i would recommend you to take the GMAT and apply for an early career MBA program.
Unlike traditional MBA programs where there is a minimum requirement of 2 years Full Time professional work experience, Early Career MBA programs are designed for students who are fresh college graduates with no work experience or one to two years of professional work experience. Students are typically recent college graduates.
Some examples of such schools are:
1) IESE Business School
2) University of Chicago(Booth)
3) Yale School of Management
4) University of Rochester(Simon)
5) Stanford University
6) UCLA
Note: In order to secure admission in the early career MBA programs, you would require a consistent high GPA/Percentage as well as a 700+ GMAT score.
I hope my answer has solved your query. If it has, kindly mark this answer as best answer.

Hello friend,
As a student from commerce background, you have many career option to choose from but the selection of course must be based on your interest and expertise. .
If you are good with accounts and like the subject, you may pursue CA. A chartered accoutant is a professional with the highest level of knowledge in accounting, auditing and taxation. Apart from a prestigious profession, It is financially rewarding too and has the option to work with a company, a firm or practice independently.
Another course that could prove to be very good for individuals from commerce background is Certified Public Accountant (CPA). It is a professional course which deals in Accounting, Auditing, Taxation, Laws and Regulations and Allied Areas.
Apart from CA and CPA, another professional course that you could pursue is CS(company secretary).The future prospect of this profession is also good and is also financially rewarding.
Besides these professional courses, If you are inclined toward management job, you can always go for MBA which is in huge demand at present scenario.
So before selecting a course, you must realize your qualities and drawbacks to make perfect decision.

Hi,
If you are considering the university brand name, job prospects and living standards, then you should apply for the MBA program in USA and Canada(USA being a better location). Majority of the top universites in the world are located in USA and some of the top universities in the world are located in Canada(University of Toronto and University of Western Ontario). The MBA offered in these countries is 2 years in duration. UK is also a good destination for the MBA but not the most preferred one in terms of jobs. Also, the UK MBA is 1 year in duration. My advise to you is that score 700+ in the GMAT, and apply for the Fall 2012 session as you would have 3 years work experience by then.
Conclusion: Apply to US and Canada.
Hope my answer has solved your queries. If it has, kindly mark it as best answer.