Why not just move US H1Bs back to India and keep paying them US wages? They will be filthy rich in India, their living standards will literally skyrocket. They will be highly unlikely to leave. And keep them on same roles as they did in US.
The leadership in a GCC are all ex-US EMs, PMs, PMMs, and FP&As who are given the option to take a haircut on their US salary and build a hiring pipeline within India while meeting the company's hiring requirements.
Tech salaries in India have already converged with much of the EU, especially for top talent.