Few suggestion for you guys. Had applied to a few schools year and believe have a strong profile but was either waitlisted or dinged at 4 places (Top 30 schools).
# Apply in Round 1. Round 2 for Indian applicants is like Round 3 for Domestic applicants. The effect is even more pronounced for Top 20-30 schools.
Every school has a certain % of seats which they would fill with Indian applicants with Indian work experience. I guess it would vary from (5 - 15) % depending on the school.
Most of the seats are filled in Round 1. The concept that Round 1 and Round 2 have equal chances is applicable only for Americans/Europeans or people from countries who are NOT represented well. Not for Indians with indian work ex

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# Get your recommendations proofread and ask your recommender to give you Top 10% in overall ratings (not in every category but in most). Unfortunately people in India are not very enthusiastic about giving recommendation and even if they do give they fall behind their US counterparts in the quality. I mean was reading one recommendation for an accepted Candidate at Columbia and I was like WTF who would write me a 2000 word recommendation full of adjectives and examples. It would take days to write such a letter and even then that person should already have an MBA from a Top School to be able to write such a recommendation. The MBA system rewards people who blow their own trumpet or get it blown by someone else

. It's like someone who rates you as top 10%, adcom downgrades that to top 20% and so on.
# GMAT Score is more relevant than it is made out to be, especially for schools outside the Top 7. Most Indians have very similar profiles/work -ex/ECs and the only point of difference is GMAT/essays/interview. Anyone can get the help on Consultant and get top notch essays. Anyone can fake their way through an i/v. GMAT scores are impossible to fake. 730 and above is the sweet spot for getting i/vs and scholarships.
# Extra- Curriculars Matter: Faking ECs is very prevalent among Indian applicants as we do not have a culture that actively encourages volunteering/social contribution. Not an excuse but a mindset. It's like save yourself first. Having said that have your stories in place and the best way to do so is to actually do some EC.
# Prepare well for interviews: There is a misconception that if you are interviewed then you have 80% chances to get admitted. Anywhere from 20-50 hours are needed to prepare for interviews. You don't want to blow your i/v by one bad performance. Do not work on days when your i/v is scheduled. Skype i/v are usually held after 8PM IST and if you work you would be very tired and likely bomb it. Take help of consultants for interview preparation.