Just came back on Saturday from a week in India and have been traveling there about every 9 months for the last 14 years.
First things first: pantyhose are definitely not necessary and will probably make your life miserable.
My work entails meeting with high-level company officials (CFO, CEO types). I wear knee-length skirts and blouses, or long pants and blouses. In general India tends to be a little more casual as far as clothing styles. Not many men wear suits, and most working women wear salwar kameez--long tunics with matching loose-fitting pants--or Western clothing, usually pants.
Your linen trousers will be just fine; I personally dislike linen because it gets so wrinkly, particularly in hot/steamy weather, but to each her own. One thing you should definitely keep in mind is that you will boil when you are outdoors, but you may want to have a pashmina or cardigan handy for indoors, because many places are air-conditioned to the Nth degree. This is particularly true of big hotels and conference rooms.
As far as dining, be adventurous! I have the same attitude as you do about eating local food and getting out of the hotel, and have no qualms about eating solo in restaurants in India. Yes, you may feel a little weird, just because eating out in India is generally a very social activity--it is more common to see groups of people at restaurants than couples, and solo diners are rare. But no one will hassle you about it, and you should feel safe. I feel kind of awkward eating alone in the US, too. The difference is that in India there won't be an option to eat at the bar!
As a Western female you will potentially attract unwanted attention no matter what you wear, eat, or do. Be ready for it; it tends to be aggravating, but not scary. Depending on where you are, you can get a lot of people staring at you...but that's usually as far as it goes. On some occasions in areas with a lot of Indian tourists, I have been asked to stand with people while their friends and relatives take my photo!