Personally, I'm looking forward to moving to India. The food is tasty, the women are beautiful, and it's time for me to do something different. I have no complaints.
...and the bureaucracy and corruption are out of this world. Good luck.
Obviously, I want the US to be competitive, but this is far more out of a desire to see the US prosper than a desire to "beat" other countries in some non-existent competition.
Yes, I want silicon valley (and the US in general) to remain home to many innovative companies. No, it doesn't bother me to see India prosper. There are a billion people living in india, many in horrendous poverty. It almost seems nuts that people would fret about the notion that some of the worlds great businesses would happen in India and lift people out of desperate poverty.
Seriously, it's highly desirable for people to start businesses in India. While the US should try to be a good place for business, we must not start to see it as some innate failure when other countries prosper as well.
Keep us posted on how it goes. Good luck! (not being sarcastic).