> Is it more advisable in long run to stay and get your PhD or just leave and join some ML role in industry that takes Masters guys and get some real world experience on how to use ML to generate business value?

Answering with a Harry Potter quote that helped me answer this very question.

"Play to your strengths."

"I haven’t got any," said Harry, before he could stop himself.

"Excuse me," growled Moody, "you’ve got strengths if I say you’ve got them. Think now. What are you best at?"