I am an Indian Foreign National (but studied undergrad in US and work at top investment bank in US).
My GMAT is on the lower side for M7 schools (710). I understand that Indian applicant pool is very competitive and a GMAT score of 730+ is preferred. However, will I be compared to Indian nationals because of my passport or will I be compared with US applicants?

Without experience, I wont trust this answer.
As per my knowledge, you have no substantial reason to say this

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You’ll be considered an international student as you’re not a US citizen or PR. However, you will have an upper hand compared to the Indian applicant pool. Your US experience will set you apart and probably slightly lower scores might work for you. In the US, they heavily focus on your profile so you’ll stand out. If you can score a high GMAT (700+) with good essays, you’ll be able to assure yourself in admission in most top Bschools.

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if you have USA citizenship then you are considered as local otherwise you are an international applicant.

As far as diversity is concerned you will be considered an Indian.

But I think if you don't need a sponsorship for the job post-MBA you can be considered local in that sense.

The schools are very concerned about their placement statistics post-MBA. And one of the reasons international students don't get a job is due to sponsorship. So if you have applied for a green card already or you already have one, I think you will be in a much better position to stand out amongst the Indian pool.
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