Hey aceacharya - you've got a lot going for you, from what we see in this profile - nice job on that 770 GMAT! That definitely opens doors. Being in the top 15% of your class in college is also great. Many schools really like the good students so this can be a nice advantage.
You don't have to worry about converting your grades to the U.S. 4.0 system; MIT is now the only school that asks you to do that anymore but it's even optional; most schools want you to report your grades as your school has recorded them, and you can do that for MIT as well.
Your background is, as you know, quite common, being the rather stereotypical Indian male in IT - however you look like you're "ahead of the class" as it were, being distinguished with your basic stats, and your work experience is certainly appropriate. We're also quite encouraged by the schools you've listed; this is an excellent mix, and it shows you've been doing your research. You have some quite competitive schools but you've also got a few that are more reasonable, which indicates you're coming at this with a dose of reality - always a good sign!!!

The one glitch that we're perceiving is that very last phrase - you want to do strategy consulting focused on ops (good) but then the "research" bit threw us and even worse, the "entrepreneurship" thing sorta made us go "Huh?" We're probably simply misunderstanding your intent but how does strategy consulting and entrepreneurship go together? Startups aren't often the target market for consultants simply because "there's no there there" - they don't typically have the funds to justify the high-cost consultants, and anyway, EVERYTHING about a startup is strategy so it's not like you need to bring in a special SWAT team of consultants to deal with something; the environment just doesn't typically fit with the standard strategy consulting model. So we admit to being confused on this part.
Strategy consulting is fine as a post-MBA goal and we like seeing you leverage your background in operations into your future career path, that can make a lot of sense. But strategy consulting is also like the most popular and trendiest goal in bschool admissions at the moment, so there's that; and the bigger question was just, how are you seeing this "research" angle, and especially the "entrepreneurship" thing, fit in? Maybe if you can clarify the goals for us, we can do more to help see where you might fit in.
The schools you've got are the ones we'd be suggesting for process management; the only one that's not on this list is Stanford but we honestly spend most of our time discouraging people from even trying for Stanford since it's just so darn hard to get into, so we are absolutely not suggesting you should add them (unless you're totally gung-ho and inspired for them, but you didn't mention them already so that sort of takes care of that).
Anyway, hope this helps!! Let us know what you think 'bout all that.
EssaySnark