Sorry for delayed reply.
As per my friends doing MS there, the quality of education is good. The courses are rather tough than here and there is continuous course work, exams going on.
Regarding recognition, i dont think there will be any problem.
Currently in Skovde University in Sweden near 30-40 Indian students are doing their MS in bioinformatics, biomedicine and other.
Please refer this page *www.his.se/english/education/master-studies/masters-programmes/
This university seems to be good. There are no fees and accomodation + food dont go over 20K or so.
I have talked with my friend and according to him there are great prospective for furhter studies.
If anyone of you want to pursue their higher education in Germany please visit
www.newdelhi.daad.de
If you need any help I can give you contact of my friend.
Hope this will be of little help.