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The Stanford Dhirubhai Fellowship program selects 50 Indians who would then apply to the Stanford MBA separately; and 5 Indians finally selected by Stanford will get an 80% sponsorship (approx INR 1 Crore).
The application for the fellowship is now open (Deadline 29th May, 2018) and does NOT require a GMAT/GRE score. If selected among the top 50, you may go on to take the GMAT/GRE and apply to the Stanford MBA by September 2018.
Even if you do not find your profile good enough for the Stanford MBA, it still makes sense to apply for the Fellowship, since a selection among the top 50 candidates may be valued by any of the other universities you may be applying to. Also, there is no application fee for this program.