Pros of living in India:
1. Cost of living is way too less compared to Bay area. You can rent a very decent house for INR 20000 per month (~$333) or ~$4000 per year.
2. Bangalore was ranked the 19th best city in the world for startup environment by Startup Genome report.
3. Tons of startup groups and meetups, people are really helpful and supportive.
4. You can find smart people to hire at a fraction of a cost.
5. Good internet connectivity.
6. Getting VISA for extended stay would be very easy considering you're a US citizen.
7. Language would not be a big barrier because most of the educated population understands and speaks English.
If you want to know more or have any questions, my email is in my profile.