I have offers from universities across Australia for pursuing Masters in CS/IT. I am wondering if these degrees are recognized in Indian Job Market. I have completed my B Tech in CSE in 2013 and have 2 Years of experience.
Advice /queries would be highly appreciated.

It till depend on the University. It is common for people from India to go to the US or Australia, or even China for university studies. If it is a good approved school, most places should accept, but that is the same with any university, Companies may prefer certain universities over others.