All three of the institutions, MDI, IIFT, and IIM Indore, are comparable, so admission shouldn't be based solely on the IIM moniker. Both IIFT and MDI have excellent lists of recruiters visiting campuses and smaller batch sizes. The IIFT is the best of the three if one is interested in trading or is fine working in general management roles in emerging economies. MDI is the best of the three for consulting-related jobs and a great campus life. Unfortunately, due to its enormous batch size, IIM Indore is no longer regarded as being in the same league as other old IIMs. At all three institutions, the faculty and teaching methods are comparable.
It would be MDI>IIFT>IIM I if you took into account things like placements, faculty, brand value, campus life, and location.
All these universities, MDI, IIFT, and IIM Indore are renowned universities. You should weigh your priorities such as placement opportunities, campus life, and knowledge gain from these universities accordingly, in order to opt for the best one among them.
Placements:
Campus:
The campus life at IIM Indore is exceptional. In spite of IIM Indore being situated out of the city, it has one of the top-notch campuses in India. It is overall a decent campus with sports facilities included. MDI campus is great too but not as good as IIM Indore.
Faculty: The faculty in all of these institutes are highly educated and experienced.
IIM is a brand name on its own and will certainly offer you better opportunities.