Achyut Menon has a good post for Non-Resident Indians (and others) who might be looking to relocate back to India. As he says:
Most of the people who return today-are doing so –for professional reasons. A stint in India (or in China) –is certainly a MUST for the global professional today. In fact, there is a school of thought..that perhaps not moving to India now..may not be a smart idea after all!!