Hi
Samcha,
if retaking the GMAT is not an option, and you're only interested in Top US 1-year Programs, I think you could consider Cornell's 1-year MBA. Average GMAT is 687, but the class is very small (~70 students) which makes it very competitive. This means that you will probably have to compete with a lot of Indian "GMAT stars".
That being said, with a kick-ass application you might still have a chance
As you may know, there are a lot of really good 1-year MBA Programs in Europe: e.g INSEAD, IMD, Bocconi, IE, Judge, Said, and even HEC Paris which is 16 months.
You might consider some of these schools as well, although extra-curriculars and international experience/ambition will be requirements for admissions, especially for INSEAD. By the way, research work/papers won't be counted as extra-curricular.
Regarding your question whether a Product Management role will give you an edge:
- For MBA Admission: I would say yes if it represents a career move upwards
- For post-MBA placement: I would say it will help you significantly
I would strongly encourage you to work with a professional MBA Admissions Consultant to put together really strong applications.
Feel free to PM or email me directly with your CV for a more complete evaluation of your profile/candidacy.
Good luck!
Alex