Can you own a business in India while working in the US on visa? If yes, what are the tax implications? Can it be in a partnership? Will that change anything for tax & reporting for the India based partner?
You can def own a business passively. Whether you can actively do work for it is a different question.
Of course you can, you can also own a business in the US. There are some restrictions on the work you do though. If you are a passive partner there is not many issues. Talk to a lawyer and accountant