Good question.
I don't think I can help much with understanding how mainframe programmers get hired in India. I've heard SO MANY anecdotal stories about odd requirements and non-nonsensical interviews that it's a mystery to me.
It seems to be like when companies over here have "job fairs." You put in applications, and what they want to see is that you are available 24/7, will work for 38 hour weeks (so no benefits) and must be flexible on when the hours will be worked (they will make a crazy schedule for you). Then they complain that no Americans are willing to work, and ask for more Visas.
I found this article:
http://www.jagranjosh.com/careers/kpo-a ... 86370985-1 about working as a "youngster." If you were my kid, I'd tell you that working ANYWHERE is good early on. You just have to remember that the most important thing you are learning is how to please a manager: come in on time, learn to do what needs to be done, don't whine, don't gossip, make people look good. That will give you something most people don't have: a good reference.
I don't know if that advice applies in the Indian job market. If they are just taking cattle calls and picking random resumes, then nothing will help (or hurt). If they are simply having the interviews so they can cry about the lack of available talent in order to choose who they wanted in the first place, then nothing will help.