IT depends on many factors. If you are in a good MNC in India, your job is well settled and you can advance in your career quite nicely.
Here, I am not sure whether your career progression will be good. If you feel that this job experience is going to add value to your experience, then it is a good idea. I do not see this place has good market for IT project management( it is my guess seeing a lot of people trying for IT job here ). Also the job security is not high. You cannot change the job here without getting NOC . The main attraction is that the salary is tax free and your earning potential is good.