IIM Indore vs FMS. Which one should I choose?

FMS, without a doubt.
Do not compare FMS to IIM Indore just because it is an IIM; this is a mistake. The positions available at FMS are much better than those at IIM I. Furthermore, FMS completely dominates the field when it comes to the ideal batch size. A small batch size ensures that more candidates see the process of more companies without missing out on any opportunities, even though the roles are limited at all campuses.

• IIM Indore's well-known alumni may be alluring, but roles are typically a better metric to use when assessing a university.

For instance, both institutes use Deloitte as a common recruiter. However, the position at FMS is in the area of strategy, whereas Indore receives an IT-related position. 

• The ROI is the next significant matrix to evaluate.

Even though the current generation believes that ROI shouldn't be the most important factor to take into account, the combination of ROI and Location gives FMS an undeniable advantage over many other top campuses across the nation. As you advance year after year in the corporate world with new roles and switches, you get a better return after investing two years.

• Campus Life is an additional factor to take into account.

It is the much-discussed factor used to rank campuses. It makes no sense at all to choose IIM I just for the sake of the on-campus experience.