Unfortunately, I've read that Indian students can be at a disadvantage. Many business schools have heavily Indian contingents as one of the most popular demographics of students. This can be a negative for schools from a diversity perspective.
Also, you are in IT/Software, so your work experience may not stand out.
B-school is all about crafting a narrative - if you are not elite, do you bring something different to the table?
With a 690 GMAT score, especially if you feel like you can easily score 710, spend some time studying and go for the kill and aim for a 750. It'll give you a great story to tell of how you went above and beyond during the application process, and something to set yourself apart.
Applications and essays are easy, and GMAT is by far the most time-consuming piece of applying. On paper you can just be yourself, but on GMAT you're just a number. Hope this helps.
- Keem