Hi Nicky - thanks for reaching out for a
profile review! You provided some really helpful information in your post.
The first point is that while you're headed to the 'older' side of the MBA equation, you're still in range, and it sounds like you've been preparing for things quite well - much more than we often see - particularly with getting your finances in order. This is impressive. Not sure how much it will help you in the actual applications themselves but it's certainly refreshing to see. You're being realistic, and we like that!!
Next point: You don't have to have gone to an IIT to get into a good American bschool. The schools care about where you attended but they also care about what you made of the opportunity and how you applied yourself. The PMP and other certifications aren't actually going to help too much in the context of academics - they add value since they show how you work to improve yourself and seek out ways to be a better contributor / excellent at your job but they are a relatively small datapoint. What's much more important is to give examples of how you have added value in the workplace (and less important, in the community). So that's where you need to be exploring your content in terms of what to show the adcoms - both in the essays but equally so in the resume, and of course on your recommendations.
Now here's where it gets good: The fact that you're sponsored, even if partially, is going to make this whole process easier for you. In fact - not sure if this is really the right target for you or not and we're nervous about even suggesting it since it's a VERY big jump for anyone and we don't actually know enough about your profile to say if you're actually a fit - but you could potentially consider the Stanford Sloan Executive MBA. It's an AMAZING program but it's totally not right for many people and you may be a little light on the experience side. Still, it's worth looking into - though be warned, it's VERY (!!!!!) expensive. It's a full-time residential program, unlike most EMBAs, so it's much more like the "regular" MBA than you'd get elsewhere. It's also very hard to get into but it could be worth exploring.
Beyond that, you might possibly be a fit to Columbia's J-Term, since you wouldn't need an internship if you're headed straight back to a guaranteed job at HP. Your GMAT is a little low for an Indian engineer trying for Columbia but it's not impossible, particularly with the collection of ex-pat experience that you have now (and the fact that you're sponsored - that counts for a lot).
There's some other options too like perhaps the Accelerated MBA at Cornell or the Kellogg 1Y but both of those require specific business course pre-reqs and we're not sure you have them.
Beyond that, why don't you suggest to us some schools that you're considering and we can respond to those choices - it's much better than us just tossing out names at random.
EssaySnark