I am an American citizen and I am wondering if it is possible to get residency in India. It sounds like if I was hired by a company in India I could get a work visa and then after a number of years of working in India I could get residency. However, this is not really what I am looking for because I have never held a professional job before and I am not currently looking for one though maybe in the future it could be a possibility. I would also be curious to know how a foreigner gets hired in India? Would I have to apply for a job in India from abroad or could I look for a job while I was in India on my tourist visa?

Often, you are hired while still in your country and the work visa is all arranged prior to going to the country. If you go there on a tourist visa, you normally have to return home and get the work visa before returning to the country