yes you should retake the GMAT. Being Indian will put you in a very competitive application pool and with a GMAT that is already well under the average for this program, you are putting yourself at a serious disadvantage for standing out in the proverbial crowd. It's not all about the GMAT of course, and you are certainly in the 80% range, but Stern is highly selective and are not going to be coming up short on applicants with a similar profile to yours.
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