The degree you accept and consider is heavily influenced by the people who hire you, i.e. your employers. To give you an accurate picture, the syllabus and study material are far superior to Mumbai University, as it provides in-depth knowledge. If you want to continue your education, the IGNOU degree will not be accepted by any universities abroad.
When you present yourself to a prospective employer, make sure you have a compelling reason for choosing distance education. If the company believes you've spent your time productively improving your skills, you'll be rewarded for it.