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1) MCEM exam will make a difference in your life.
You'll know how tough it is to get through the exam.
You'll have one of the formal qualifications in emergency medicine in the world which includes FACEP(USA) and FACEM(Australia).

2) It will fetch you a good job. As of today, there are only 3 doctors who have finished MCEM in India and have acquired good positions in various EDs.

3) Medical Council of India has not recognized emergency medicine in the first place. So there are no implications as of now. What happens in the future remains to be seen.

4) Trainees in India are eligible to take FCEM.