Yes, it is possible to do so without having to worry about any foreign investment regulations or forex hassles. There are International fund of funds launched by Indian mutual fund companies that invest in US based mutual funds. You get to invest in them just like any other mutual fund - in rupees and you get back your money in rupees.
Hope we helped! Why not get started with your Scripbox.
If you need further assistance please feel free to reach us at 1800-200-1265