Hey!
I think you can be a really strong candidate. In essence, your profile checks all these boxes for now:
High GMAT (Dare I say exceptional

)
Good UG College (For M7 IITs is the strongest brand you can have as Indian)
Great GPA
At least one big achievement (Recogntion by Minister of Communication) - You can share more information about it to see how it fits into your profile, btw!
I think the next steps for you to be a top-notch candidate would include finding great full-time work experiences. Try to go deeper into roles related to what you did. The Govt PSU can be great but a short stint at top tech firms, say Amazon or Google can be the cherry on the cake needed. It can communicate how you have experienced working at the higher levels (specially the US schools value this)
Finding fellowships can be a great idea, but I feel something entrepreneurial can further compliment what you are aiming at. If not founding a startup, try to join one if you can. Also share your societies and activities done in College, it can be good to assess them.
Plus, you can try to do something international as well. I am not sure of your field, but you can look for international research projects or even summer schools focussed on something different such as Economics or Business-related. This can be done to serve two purposes - Highlight how you have learnt beyond tech + International exposure.
Let me know how these ideas sound, but I would say with the profile you have now, you have a fighting chance. If you work a bit more, I am sure you can reach amongst the strongest candidates that apply.
Live Long and Prosper bud!