GD/PI is a process which happens after the CAT or the relevant entrance exams for most of the MBA colleges across world. The reason is that MBA requires a personality trait to be successful . So unlike engineering and medical exams in India, most of MBA colleges conduct this process before deciding to offer admission to students. Hence it is a very common practise to find that a student with all 7 IIM calls fails to go anywhere.
Thus, it is very important to prepare for it as much as as for CAT and with equal dedication. Also, 2-3 month is not good enough to practise so start giving time for that now.