I'm an Electronics engineer with 10+ years of experience in petrochemical sector and have to choose between RSM and Mannheim Business schools FT MBA programs. I have an indian background and I don't speak either Dutch or German. In terms of better job prospects across Europe, which MBA would be a better choice for me. I would want to opt for techno commercial positions in multinational companies. I under stand that German has a bigger industry base but how is RSM in terms of overall reputation across Europe or overseas specially in Asia? Moreover RSM's falling rankings is a bit of concern. How does the fall in rankings impact job prospects for MBAs from a particular school. I have to decide soon so an urgent response would be appreciated

These are rather similar schools. RSM is a much older, bigger school so it has a better alumni base and a better brand awareness internationally. You can use LinkedIn to compare, but I assume RSM has a much bigger MBA network in Asia, and everywhere outside DACHS and France, than Mannheim. 
Falls in rankings don't create worse outcomes as much as worse outcomes create falls in outcomes. 
As a tech industry person myself I can't really guess what a techo commercial role is, but maybe look at the alumni networks in your target sectors, industries, functions or firms. 
You will need to network your way into most European roles, so the quality and relevance of the network is key. So goes your evident interest in your future homeland. If you are not learning Dutch or German now, read the post linked in my profile page called Do you need to speak the local language. 

It may be slightly easier to transition to the Netherlands if you don't speak either of these languages, at least according to this discussion:
https://find-mba.com/board/europe/ask-away-mba-life-in-rsm-netherlands-51072

'techno commercial positions' is rather vague - would these positions exist in either country where you want to study / work? Might there be other opportunities in countries where you already speak the language? 

Dear Duncan and Larry, I appreciate your kind replies. I want to get into a bit more detail and want your candid feedback on the same. Being an engineer, I want to join a position in companies which can benefit from me technical background. So essentially i want to go into business development roles.One update is that I got an admit from IE Business School in Spain as well. So how do you see RSM vs IE vs Mannheim for that matter.I want to stay in Europe for a while to have that exposure and then may be return to my homeland after few years. I have seen that Mannheim has the highest average salaries post MBA recently. But my German is obviously not good at all. I'm open to learning the local language but I cant be that fluent in one year or so.I have to decide between the three programs soon so please assist. 

Read the post linked in my profile about do you need to speak the local language. 

I agree with your view point in terms of the local language. But how do you see IE vs RSM? IE is a great business school but their rankings have been really abrupt. Do you see the school to be picking up in future or it has lost its old place with the rise of IESE and ESADE?

In terms of the MBA experience and the learning / networking opportunities, which school will you prefer? IE or RSM?

IESE and Esade are the traditional leaders, not IE. IE is better for Spain and RSM for The Netherlands. 

The rankings are a marketing tool that the admissions departments use to appeal to the international students. No hiring manager accepts or rejects a candidate because the university he/she is graduating from fell/rose 20 spots in the latest Forbes publication.
You don't see rankings plastered on the homepage of HBS or Stanford.

The rankings are symptoms, more than causes. Employers don't pay a lot of attention to them, but the rankings reflect outcomes. When schools create good outcomes, then the rankings follow. However, rankings influence students. Student quality influences employers, and that influences outcomes, and thus rankings. So don't neglect the long-term power of rankings. Indeed, hiring managers might not care which school you attend, but hiring managers are not the ones deciding which schools to visit. HR managers will prioritise schools, and will move them up and down. 

The rankings are a marketing tool that the admissions departments use to appeal to the international students. No hiring manager accepts or rejects a candidate because the university he/she is graduating from fell/rose 20 spots in the latest Forbes publication.

I agree with your view point in terms of the local language. But how do you see IE vs RSM? IE is a great business school but their rankings have been really abrupt. Do you see the school to be picking up in future or it has lost its old place with the rise of IESE and ESADE?