several thoughts:

1) MSIM and MBA later is not a good idea. It's generally one or the other, but not both. Applying to an MBA program with an MSIM under your belt will likely make the adcoms wonder why you havent' achieved your goals with the MSIM, or why you chose to do the MSIM if it wasn't going to get you where you wanted to go. Either way, it's not a good idea.

2)Adding another year of work experience will not help your case, as you mentioned. Your GMAT score is good, your work experience is in line with b-school requirements and your post MBA visions is solid. Couple that with a depression in application volume and you are looking at a good year to make your case. Try to get R2 applications in if you can.

3)I would target top 15 programs with your profile. Remember, though that Indian/IT background is a deep application pool, so be prepared to contrast yourself pretty convincingly with those who have a similar background.

Thanks Bryant