No... The H1-B program is a way of making people more successful in their home country not to bring that knowledge and talent into the U.S. on a permanent basis.
As an outsider with no bias here, it occurs to me that the above is probably in the long-term interests of the US as well. India is a big place, with lots of people, many of whom today are struggling with things we take for granted in the West. Helping to improve things like education standards and technological advancement potentially develops a vast export market for US products and services in the future and/or a mutually advantageous trading partner.
People often look at international aid schemes as charity, and support them on that basis, but the truth is that there is often a level of "enlightened self-interest" behind government support for those schemes, because things like global security and having stable economies in your trading partners are in everyone's interest. Much the same arguments could be made, as I understand it, for the US H1-B programme.