I am a fashion design graduate from India wanting to do my MBA in fashion & luxury Brand Management. I have searched a lot of schools online and I'm confused about whether to go with a Fashion school or a business school for a Master's degree. Also, I currently have no work experience so which college would you suggest to me which has more value and exposure. and what all should I do before applying for my master's degree. Also, I want to move out of my country because as a matter of fact, I know MBAs are not paid any good in India.

Start with https://find-mba.com/board/general-forum/luxury-luxury-brand-management-20998 

There are two main paths:
- Be independently wealthy. Learn French or Italian. Spend 10 years networking and taking internships.
- Find and fill a valuable shortage gap in the industry. For example, there is no shortage of fashion designers, especially since so much fashion design in the industry is the homage of designs from elsewhere, or buying from the design offers of manufacturers in the developing world. We can get clues from https://www.mckinsey.com/~/media/McKinsey/Industries/Retail/Our%20Insights/State%20of%20fashion/2021/The-State-of-Fashion-2021-vF.pdf  and learn that the Asian luxury market is the best fashion market. so, for example, instead of attending a fashion school, attend a business school:
- Supply chain management and sustainability
- Shifting from store to digital commerce and service
- Business analytics
- Operations and revenue management
- M&A transaction support.

Honestly, I think fashions schools are massively focused on supply: design, styling, creative production, product management and fashion buying. The challenge of demand is reduced to communication: merchandising, marketing and PR.  There's almost no fashion school that will teach you the management operations of selling, financing and serving customers. I think that's the gap you can fill: operations. 

[Edited by Duncan on Jun 05, 2021]

The MiM at SMU has a great selection of operations courses, for example: https://business.smu.edu.sg/business/disciplines/operations-management/om-graduate-courses

Thank you so much for replying @Duncan. this really helped me a lot 
Will it be possible for me to get into a business school like NYU Stern after like 2-3 years of experience (not in a managerial department but in a design department) + if I get online certificates and credentials from online platforms (like EDX or BOF education or maybe coursera) where colleges like Bocconi give online courses on luxury management.
will it add to my profile? is there a chance of me getting into a business school then?

All those things help. I thinks it's better for you to move into the business side of the industry ASAP, if you want to get into a top MBA, looking for operational and even supervisory experience. That, and your values and mission, would stand out more than certificates. Most of these certificates don't carry academic credit: those that do are more valuable. 

Will it be possible for me to get into a business school like NYU Stern after like 2-3 years of experience (not in a managerial department but in a design department) + if I get online certificates and credentials from online platforms (like EDX or BOF education or maybe coursera) where colleges like Bocconi give online courses on luxury management.