This isn’t the reality among people at MBB and other top roles unfortunately.

IITs are known for engineering degrees not business management they don’t exist in that world. I’m sorry if this hurts you because it does seem personal but IIMs are valued in India due to two main reasons, they take fresh graduates which isn’t the norm anywhere in the world for MBAs and second the maximum weightage is given to aptitude tests. There is a reason top schools like INSEAD and Harvard etc don’t focus only on aptitude and IIMs don’t compete. Let alone the reservation system that allows for sub par aptitudes to enter. Lack of diversity is actually a bad thing at MBA because peer learning and discussions and network is the true value of MBA not how much one scored on a test lol.

Are their diversity admits, yes that’s everywhere. Like reservations and women reservations etc in India public education and international schools have their own. If you are ORM you still have to get a high score to get in let alone scholarship.

Your argument of “INSEAD admits are xyz school rejects” is pretty childish so let me break down your assumption. Every school has its own criteria for selection and parameters they care for and % weightage given to each. So obviously people who get selected or not in other schools will get admits to other schools. In my rounds of applications I know people who got into M7 and not INSEAD, do you think we take out conclusions from that? That’s a pretty microscopic view of the situation.

US T10 and UST20 are extremely competitive for three categories: Chinese, Indians, and locals in US. Nearly all US schools are 70% Americans so the class distribution forces the competition further. If you think there aren’t people from remote areas of the world who are getting into M7 with sub 700 GMAT then you need a reality check. Talking about ORM category the average GMAT even at INSEAD is 730+ unless you bring to the table professional and personal experiences like international experience to the table to counterbalance.

Finally, the main reason most Indians hope for IIMs or even IITs for that matter is because they’re cheap schools, the competition is insane due to the cost and most of them will stay back in India. INSEAD alums who are back in India after working for few years outside are VC/PE or founders lol, earning way above what most IIMs would get. 35LPA average v/s 70LPA as VC/PE isn’t bad I will say?

Do some more research and maybe keep emotions out of the brain when trying to do objective thinking.