Both are equivalent, except MBA being degree from University and pGDM being degree from College.  PGDM is more industry relevant.

Both are good as PGDM is a diploma program whereas MBA is a complete degree course. And personally I would suggest MBA is better than PGDM as after the completion of this course you will get the degree which has more value in comparison to diploma. But you should consider your choice, interest and potential first before making any decision.

Hope this helps!!!

Hi, out of both the value of MBA is more than PGDM in the market.
Reason is MBA/MMS is offered by 'Universities' or 'Colleges that are affiliated to Universities' or Central Body directly under the Indian Govt while PGDM/PGP is offered by individual colleges and IIM's.
whereas on other level PGDM is much more flexible in terms of syllabus as syllabus is not bounded by a particular university.

Hope this helps.