Indian VCs: Do they reflect VCs in US?

There has been an increasing VC activities in India in recent times. Every VC company in US wants to open their shop in India(Bangalore, Hyderabad, Mumbai, Delhi). I have been in startup company for quite sometime and found VC activities in India, quite unique of its own kind.

I got a chance to talk to one of the VC in Mumbai on one of my idea. They were of the opinion that they would like to invest in a proven model rather than taking risk(one out of 1000 great ideas clicking in the market). My question is would India really be ever make a Google class company if "Indian VC" do not create their own style of execution.