While this is by no means a complete answer, here is one thing that you have to think about: What happens if you are not able to finish your studies or get a job after your graduation? And how likely is this possibility? Any loan that you take would likely be easily paid back if you get a job in Sweden/western Europe (I think this based on experience from Denmark where it would be possible to pay back such a loan even on a less-than-average salary). However, what happens if you are forced to go back to India? I would think that would make the loan very hard to pay back. What happens then? Is that a risk you are willing to take? I'm not saying you shouldn't do it but I am saying that you should be prepared for the worst and know that you will not be completely screwed if that happens.
Lately, Sweden has taken quite a hard approach on immigrants and I am not sure how that would affect you. Across the bridge in Denmark, recent Danish graduates from outside the EU can get a work visa of some sorts relatively easily. Is this the case in Sweden? Would you be able to get a work visa in Sweden/western Europe in case you fail to finish your degree for whatever reason?