I've done this. It can be hit or miss. Get a great team with a strong lead and you'll love them. Unfortunately there's quite a bit of opportunity over there so once you've trained them up, they're always looking for their next (better paying) gig with their new skills. It's rare if folks last past a year on your team.

Time difference is tough, unless you're ok with 7am or 10pm zoom calls.

There are so many incredibly talented software engineers in India that want to stay in India for family/cultural reasons. The best setups I have seen have one very reliable senior person who experience working in EU/NA, then returned home. They can help with the cultural barriers with more junior hires. Further, if you pay 20% more than your competition, you can get way better candidates. My experience is also pretty similar with offshore teams in China, but their English skills are worse (on average).