Maybe 5 years ago and before that, US was a great option for those in India.
5 years ago you made a lot more money compared to India and comparatively better lifestyle. In India, materialistic things were starting to become available. (at least for the IT educated which most of this forum members fall into) In most cases, people who stayed back are in a better career position than those who came to the US.
10+ years ago, for the really educated elite, money was a pittance in India, careers were not challenging and no comparison on lifestyle. It made sense to move to US.
But now, for IT and even biotech and other emerging sectors, India seems booming and better. Pays bring in 1+ lakh per month (I am talking about 8+ yrs experience). In purchasing power parity, that is close to if not on par with a 6 figure salary in US. Careers/jobs are more challenging in general in India (though pretty hectic) compared to being an "average code monkey" (no hard feelings) in US. And if US slips backs into recession, things could get pretty worse on all fronts in US. On the materialistic front, a lot of stuff is available easily in India now and it is within easy reach with the income mentioned above.
So, does one need a GC?
My personal opinion is if one can be in US 6-10 years, save the money (Indians being the penny pinchers they are in general) and return back with the well established chunk of money as an initial asset base (6-10 yrs could lead anywhere from 30 Lakhs to 2 crores on average) and build on it towards retirement, etc with a lot more financial stability.
You do not have the above advantage in US because of the 30 yr mortgage and expensive kids education. It is easy to live through better times but tough times and retirement could be a nightmare in US.
p.s.: BTW, if you are one of those guys with lots of ASIC design experience, in India one can get paid Rs. 20+ lakhs per annum. Check Intel, TI, etc websites. They will pay for your relocation from here and if you can land a leadership role, they pay as much as $75K in India.