Hi, balmy007--
I understand your love affair with Spain (we all are involved in that one!) and I also have a love affair (from afar) with India! My family lived in Almora and Pithoragarh for about 90 years, between 1840 and 1935. I can't wait to travel there someday.
You mention an MBA; do you want to work in business or would you take work outside of your field in order to live in Spain? I have also wished for a way to get work in the E.U., but don't have the necessary paperwork. I'm studying to be a college professor, though, so I hope to work out a university faculty exchange position someday!
I did look into working in the E.U. last fall, and learned that, to move to most E.U. countries, you must have a firm job offer. And of course, many (most?) companies and countries have rules requiring that they FIRST search for employees from within the E.U.
So...I would think that one important piece of this job search would be to be in contact with potential employers in Spain to find out what their needs are and whether you have special skills that they might not be able to find elsewhere. I don't know whether people in Spain will conduct "informational interviews," but that might be a way to get a foot in the door (and a reason to visit Spain!).
I wonder if you could work for an international company (based in India, perhaps, or somewhere else) that has offices in Spain?
You also mentioned being single...there is always the "marry a Spanish man" route!
And you didn't mention whether you speak Spanish--I would imagine that fluency would be helpful.
I know there will be people here on the message boards who know FAR more about this than I do--
Best of luck, and welcome to a group of friends who share your love for Spain!