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Although expensive and valid for just two years, there is no bypass to IELTS. They want to make sure that language isn't a problem for you during your time at school. Language is a basic hygiene factor for admissions and employment, I recommend you take the test.
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harveyyyyy
Hi,

I am a Deferred MBA applicant and I did my undergrad in India from an English-speaking university­. Hence, most of the Deferred MBA Universities do not require IELTS.

However, Berkeley's Haas School of Business requires all international students to appear for an IELTS exam.

So, my question is whether it is worth spending around $200 just for one business school or IELTS will also have other benefits.
­
Hello harveyyyyy,

Thanks for writing in.

If your admissions to Haas is dependent on an IELTS score, it is definitely worth taking it; you must not think about the cost or the effort of taking the exam; the latter is anyway going to be miniscule. 

Hope this helps.

All the best!