First of all Sivaramaraju none of the IIMs and IIFT gives admission through GMAT for their regular full-time MBA programme. In IIMs you get admission through GMAT for executive MBA programme which is a one year course and is applicable to the students with atleast more than 5 years work experience.

For the regular MBA programme, IIMs especially conducts CAT exam and that is the only exam to get admission in any of the IIMs whereas to get admission in Indian Institute of foreign trade it conducts its own examination named IIFT for the admission in both centres - Delhi & Kolkatta. GMAT score is only valid for foreign students to get admission in the college.

If you are an NRI then you would be eligible to take admission through GMAT score and it will be good to give this examination in the month of Oct-Dec because after that second round procedure starts for all the candidates. But this is applicable only if you are a foreign student.

GMAT is an exam which is mainly conducted across the world to pursue your MBA degree from the foreign b-schools. In India top, most Indian School of Business (ISB), Hyderabad, is the one which gives admission to students only on the basis of GMAT examination score.Some of the private colleges in India also accept GMAT score along with other MBA exam scores like CAT, MAT, CMAT, XAT etc. to give admission in their college.

All the best!!