I think people need to look at it from a different perspective in terms of verbal language comprehension.
I work in a multi-national team and often travel abroad for business. International Business is increasingly important, so post-MBA you may well be crossing paths with people from many different countries, IN many different countries. This means that the communication and social skills you develop need to be international. For Example, You can't rely on people having good English when you're dealing with a foreign company. Likewise, if you travel to another country to do business, its important you understand the nuances of the business culture there.
The internationalism of any MBA's student profile is important, as it will expose you to potential issues and allow you to practise and hone your listening skills and prepare you for international business, post-mba.
In terms of Indians speaking English, i work with many Indians in my office. People in the USA may not be aware of this fact, but the common language in India is ENGLISH. So many people speak different dialects that common understanding is usually through English. e.g. An Indian speaking Kannadiga (Bangalore native) won't necessarily understand someone who speaks Hindi (Delhi) etc.
So Indian English can be considered to be its own form of English as differentiated as Say England/Scotland/Australia/USA English.
Learning to understand Indian English is no different to trying to understand a Scouse (my accent
https://www.ku.edu/~idea/europe/england/england17.mp3), Geordie (
https://www.ku.edu/~idea/europe/england/england20.mp3), Yorkshire accent(
https://www.ku.edu/~idea/europe/england/england56.mp3), Norfolk accent (
https://www.ku.edu/~idea/europe/england/england11.mp3) Glaswegian accent (
https://www.ku.edu/~idea/europe/scotland/scotland3.mp3). In fact some people will find the Indian English accent (
https://www.ku.edu/~idea/asia/india/india2.mp3) easier to understand.