Hi Navdeep,
I think in your situation, what is really required is your own introspection on your long term goals. No one, including me, can make you aware of those.
If you feel that you would not be interested in and engineering career, it might be a good insight for you and you should ascertain what do you really wish to do.
MBA in the USA, at least in the top tier universities, requires a minimum of at least 3 years work experience Post bachelors degree.
GRE or GMAT are scores which are just one part of many important parts of an application. They are necessary, but a good score in itself does not guaruntee you admission anywhere.
For example, business schools (for MBA) require good GPA from your bachelors, good GMAT, good written essays (a lot of which will ask you about your career progression till date and where you want to go in future and how MBA will help and why that particular university you are applying to will be better for you and not some other university X or Y)....also they need a minimum 3 year work experience and unlike India, rarely ever admit students right out of a bachelors degree (called under graduate degree in the USA)
This is really important to understand, as it is very common in India to do a MBA without any work experience in the industry.
Business education is very challenging in the US universities and utilizes many experiences from a real work setting. If a student does not have work experience, he/ she will find it extremely hard to keep up in their learning or contribution in the class. Very rarely (less than 1%) students can get admission in top universities even without work experience.
But, in these cases, the students are usually from extremely well recognized schools like IIT etc with distinct academic honor (like top 1% of class), extremely high score on GMAT and some leadership activities even during bachelors degree (for example running a web based company even during IIT). In such cases, the university can perceive rare intellectual and leadership potential in the candidate and offer admission even without work experience. But for the most part, for at least top 40 ranked universities, one can not expect admission without working at least 3 to 5 years after their undergraduate degree. So the 3 to 5 year requirement you will not find in written on any website, but it is true for more than 99% of cases.
Hence if you wish to do a MBA, think about working in the industry or in some corporate work setting at least 3 to 5 years before you apply.
As for GRE, if you already have paid and prepared for the test, my advice is to take it anyways. Because the score is valid for 5 years. So just because you take GRE will not mandate you to apply anywhere, but it is always good to have an option and use it if you need it.
Hope this helps and good luck!
