Composite Paper ?
It is a a combined paper for Navigation and Meteorology used for Licence conversion.
Who is it meant for ?
If you have a Pilot licence issued by another ICAO contracting state and you want to convert it to Indian DGCA licence then you need to apply for this Composite Paper.
You cannot appear for the Composite Paper unless you have a CPL/ATPL Issued by another state.
If i go abroad for flying training will it help me ?
Yes, but remember first you need a CPL from that country to appear for this. As an alternative, you can appear for these exams separately when in India. That will expedite your licence conversion. For conversion of licence, If you follow the composite route you appear for two exams and if you don't follow it you appear for three. The syllabus is the same.
It is primarily meant for pilots holding a licence in a contracting state and want to convert.
If you went abroad only for training my recommendation is that you clear the DGCA exams separately. It will expedite your licence conversion and relieve you of some stress. This is because there are other conditions associated with licence conversion like flying currency. If you are unable to clear the composite in that much time you will need to undergo some flying training as well and that would just increase your costs.