It's my firm belief that Indians need to have a GMAT score that is 20 points over the class average in order to be competitive, even with an excellent profile.
More so if it's a male in IT and less so if it is a female in a less represented industry. But for you I'd say at least 20 points, so the answer for that would be based on the class average for each School.
If financial aid is important to you you will need to have a good high GMAT and frankly you're going to get more merit offers where your GMAT is well over the average for that school. essentially they're bribing you to come there to boost their numbers.
If you have a really well articulated narrative compelling essays and all that jazz, could potentially be negotiated a tiny bit. Most of my clients get a scholarship because they've done the proper work on the application they are attractive to the admissions committee.
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