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Dear Hameed, a degree in statistics and mathematics followed by an MBA is an ideal qualification for aspiring business analysts. Although there are no full-time programmes in business analytics, it is being integrated into the MBA curriculum across several b-schools. At the Indian Institute of Managements (IIM) and several other b-schools, business data analysis and business intelligence is interspersed in the PGPM curriculum.
IIM Ahmedabad has Statistics, Decision Making and Operations Management as part of its first year PGPM programme. That apart, Advanced Statistics and Data Analysis are part of its Management Development Programme. IIM Kozhikode offers a certificate programme in this field.
Institutions that have embedded Business Analytics in their curriculum:
IIM Kolkata
IIM Ahmedabad
IIM Kozhikode
NIT Trichy
Great Lakes Institute of Management, Chennai
Narsee Monji Institute of Management, Mumbai
Shailesh J Mehta School of Management at the Indian Institute of Technology Mumbai
All The Best !

Dear Ravi, the answer depends on a lot of factors, and ultimately, has to come from you. We can help you evaluate the scenario by laying out these factors before you. The factors have to be considered in conjunction with each other, rather than in isolation. Weigh them carefully, and decide to what extent each factor is applicable to you.
1.How much would it pinch you?
MONEY! This, of course, is the bottomline. Start with the assumption that you are not going to get any scholarship, as getting financial aid for an MBA program is really tough. Then look at the resources at your disposal (could be your own bank account, or your parents', or any benefactor you may have)
2. What are your alternatives?
Quote : 'The choices you make decide the life you lead'.
A lot depends on what options you have here.
If you've been toying with the idea of going abroad for an MBA, what are the other options that you have? Would you rather do it from a top-rung Indian institute, like the IIMs? Well, the answer totally depends on your aspirations.
3. What do you plan to do after the MBA?
This is probably the most important criterion.
The critical question is : DO YOU WISH TO SETTLE THERE?
50% of the people who come to us say “yes” to this. The other 50% say they'll come back, after staying on for a few years.
Ultimately, very few come back.
The final word: you can spend all your money, take a loan, get into the best school, do whatever; ultimately what matters is how well you can "market" yourself. That's what will get you the "big bucks!"
All The Best !