Hey,

Yes, ISRO or DRDO /HAL etc accept foreign degrees. Please visit ISRO website for the openings. Please do PG in good specializations in Aerospace/Aeronautics and this help you to get the jobs.

There is no restriction on employing people obtaining post graduation from foreign countries for jobs in ISRO. But the degree you are obtaining should be from a University which is recognised by their country and it should be on par with our M.Tech. So choose a good University and a good specialisation in the concerned subject and do the needful. The ISRO will be giving advertisements for recruitment. Keep watching for their announcements. They never entertain applications which are coming without their notification. Best of luck to you.