Can I apply for Schengen visa while staying in US but travel plans are from india to Europe and back to India? And do I need to confirm the tickets from US to India
For Schengen visa, you should apply from your country of residence, at the embassy or consulate for your place of residence. Exceptions are possible, but claiming an exception means you must argue that you are a hardship case. Better do it right.
The fact that you would arrive and leave through a third country is no problem. You wrote that you are staying in the US. Are you a citizen or permanent resident? If so, you should apply from the US. Explain the travel plans and where you will go after visiting the Schengen area.
You can apply for a Schengen visa while you are a temporary resident in USA.
EDIT 1: Schengen VISA has details regarding who and how can one apply for a schengen visa while residing in the US. Note: Schengen VISA is a third party non official website. In my 4 years of living in Schengen area I have found it useful and accurate for all my travels. But of course it is recommended to contact the nearest embassy for 100% accuracy :)
EDIT 2: Personal experience in applying for schengen visa from USA while being a temporary resident in USA.