Well praveen, I don't want to disappoint you but acquiring a business visa could turn out to be a project in itself which has to be followed up by a part time job hunt for survival which has to be followed up by a full time engagement search in a field where the openings are almost 1 in 100, that too within a limited time frame. Many things have to fall in place at the right time for you to be successful. I would call it an "in-calculated" risk. IMHO (In My Honest Opinion).
And yes, business visa can be extended but you can't continue to stay for six months at a stretch, not to mention the company giving you this favor has to be kind enough or feel that its business may go down when you are not there for him. It costs.
A better option will be to explore all possibilities while you are still with work in India. You might also want to look westward.
Wish you good luck.