GPA an issue?

I would imagine the 3.5 total GPA would not have too much of a negative impact given your 3.9 GPA in math courses. I think strong performance in technical subjects is really what admissions care about so far as transcripts go. I would not worry yourself too much.
 
Plus your GRE scores are excellent, you have a quant internship, and you come from a top IIT. Unless I'm mistaken, I don't think I've seen a single Indian admitted to Princeton coming from India (check their resume books) that didn't come from an IIT (maybe there's been BITS Pilani too?).
 
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