If you're not applying on Jan16th, I would encourage folks to wait for the January intake batch (Jan 2026 intake not Jan deadline) and apply in March when they have a 1000 seats available. It's just a matter of three months. And the great majority of the scholarships are only available in round one or round two, which are particularly close together this year round 1 being March 12th and round 2 April 23rd.
The application is really long - 7 essays and 5 recommendation questions x 2 recommenders - so give yourself at least 2 months, more if you are still working on your test score, have a super busy job or travel plans.
Take the time to draft and iterate. Research your goals, alumni interviews often consist of grilling your plans of starting a business if you intend that.
INSEAD admissions talks about how your admissions odds are the same across rounds but I simply do not believe that is true when it comes to overrepresented applicants. According to Wikipedia they take a maximum of 12% per country, i've also heard 13 1/2 percent so this is around 120-135 Indians. I'm sure they do reserve some of those seats for later rounds but it's hard for me to believe they do so equally across rounds.
https://en.wikipedia.org/wiki/INSEAD