Hi arjunpatnaik,
Overall I think you have a strong enough profile (based on what you wrote here) to take a shot at those schools, but there are two other things you should consider:
* What do you want to do after business school? Having a specific, unique, believable reason is more interesting for admissions officers than "I want to go into banking/consulting and then start my own company one day." It also will help these schools determine whether or not you are a truly good fit.
* You didn't mention any other extracurricular activities. As you probably know by now, hundreds and hundreds of Indian male applicants will aim for the top schools -- being able to show how you made a positive impact in your community is one way to stand out vs. the pack.
Scott
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Co-Author, Your MBA Game Plan