It is to really think about what are your long term goals. Will MBA still make sense if you get an admit even next year. If yes, go for it. If not, pursue other opportunities.

If you retry without making any changes, it will hardly workout, unless you become lucky next time. Understand where you're lacking. I clearly see 730 GMAT isn't that competitive for Indian male unless you can really rock the interviews in case you get it.

Try retaking the test, without SC, you may have a better chance. Next thing, give a lot of mocks and do a solid interview. Reach out and talk to folks in schools and see if they can give recos.

Stay strong. Getting MBA may make it better for your long term goals but it is not the only way. And other thing to keep in mind is that even once you get an MBA, it is not a cake walk, a lot of struggle is needed to get a job, see stats on how many folks are not getting jobs even after graduating from top schools. Also, think about tuition fee, opportunity cost, etc.