It's possible for it all to work out good for everyone. If outsourcing is done effectively, then of course it helps some family in a faraway land. It would allow you to reduce the price of your product. If it's the kind of product in the kind of market where a small reduction in price leads to a marvelous increase in sales, your company will earn more money and so you and your employees are better off, and your customers are happy to find a good product at an acceptable price point. A win-win-win-win (you, the Indian coders, your employees, your customers) situation.
In a simple-minded way, that could be considered loyal. But loyalty is a more complex idea, and is more a matter of intent, passion, and goals of well-being for others, and less so a matter of how things actually work out.
Now, in real life, just how likely are all these factors? I've heard that on occasion an outsourcing process doesn't work out. Sometimes, oh it's rare, but maybe a reduction in production costs doesn't lead to a proportional reduction in cost to the consumer. And believe it or not, demand curves in real life aren't always the nice smooth curves in economics textbooks.
Actually, a totally win-win-win-win situation isn't likely. I'm not enough of a business economist to give any odds, but for sure it's a gamble.
If you have the business/marketing/technical/outsourcing skills, talented people, the right market and you as an experienced businessperson are confident, through logic and gut intuition, of win-win-win-win then sure, you have a good case for being considered loyal.
OTOH if you don't have accurate forecasts, market data, previous outsourcing leadership experience, etc and it takes some guessing and hoping, you are gambling, at least in some sense, and experimenting to find a way to make better profit, or at least avoid losses. Sure, that's how most business is done all around the world - we humans are inherently ignorant. A case could be made equally well either way, loyal or disloyal, depending on perceptions of intent and probability of success.
Where the dividing line is can be ascertained by considering examples. Money-grubbing moves by a business owner to enhance their own take, without passing any of the benefits of increased sales to the employees, would be disloyal. Honestly trying to keep the business going and customers and employees happy in face of uncertain markets, is loyal.