I am having valid H1B on Indian Passport and I am residing in Canada.?
One who wishes to work in the US in H-1B status must qualify for that status. Being a Canadian citizen gives no special advantage. Canadians are subject to the H-1B lottery the same as an Indian citizen. Canadians do get the advantage of the TN visa. No wait, just find a job in a qualifying specialty occupation and you're good to go to apply for TN status at the border. There is no need to apply for a visa. The big difference between H-1B and TN is that a TN applicant is subject to section 214(b) of the INA in that they must convince the CBP official processing their application that they are not an intending immigrant. Any subsequent desire to apply for US permanent residence status would be subject to the diversity cap based on the person's country of birth, so an Indian who gains Canadian citizenship still faces a multi year wait in the EB-1, -2 or -3 categories. IMO, TN is the way to go for an Canadian citizen Indian and don't bother with US LPR.