hi amitbalan,
I am not Linda and I don't have her experience but in my opinion you should try to get a better score at the GMAT because :
+ Indian pool/IT/Telecom/Engineer is very competitive as you know, try to reach 670-680 would be better
+ Some schools may question the fact that you didn't try again the GMAT, at least if you try another time it means you were motivated and you didn't give up just after your first score.
+ Moreover, we all know that your GMAT score is not 100% of the application and that the score is not an acceptation insurance but at the contrary it can definitely prevent you from going to schools if the score is too low. And to reach Michigan, Fuqua, Kellogg, Wharton, Tuck or Harvard, I think 650 might be a little short.
+ Try a second time...it's always better as you don't really know your limits, you may get 690 with some training before...after a first official test you should be aware of your weaknesses now. Generally It's rare to score really lower (+/- 30pts).
GMAT is the only thing with the essays that you can really chamge, I mean you already have a resume, a life and a working experience. You can not change it. However, you can make the things easier if you get a good GMAT score and write good essays...wish you the BEST !