How effective PMP helps in fetching job opportunities? I am in Chennai, India.

It does, and it does not help, like our colleagues pointed out above.
It is like any other designation, even professional designations like P.E. or P.Eng.
They might open some doors, they might put you on top of the candidate's list, but they do not offer any certainty, and definitely will not flood you with job offers.
Most employers know nothing about these designations, or they don't care, for some they "look good" on the company to have.

Disclaimer: I'm not an IT person, so my diatribe directs to other industries.

It does not matter what skills or qualifications you have .
As soon as your resume hits a long pile which is searched for "keywords" by an ineffective software program or you talk to a recruitment consultant who is just out of College, you are left banging your head against a wall .
Your prospects of getting a job are about as good as you finding love online . it's a game of numbers.