Is it possible to do two PhD's in the same field one after another? I am PhD student in an area of business in India. I am dissatisfied with the coursework and research guidance available at my university and feel that I won't be a very good PhD post completion of this PhD. That is why I am thinking of applying to business schools in the US and Europe after completion of my first PhD but I am worried if they would even consider my application or look at it unfavorably as I will already have a PhD.I want to apply in the same area I study in my first PhD. Any thoughts on this are welcome.
I think there is only a small chance of this happening. Educational resources are limited in general and people like to spread the opportunities. Many people reading your application might wonder if you are just wasting everyone's time, including your own. 

Some universities will consider you, but others will immediately reject you. 

A post-doc somewhere after your degree might be a better option if you think you have a chance of landing a good one. It gives you a chance to prove yourself and to build your CV. 

Or, plan to switch universities prior to finishing. Either early or at some logical point. In the US a logical point would be after the required coursework or after an MS. Probably it would be different in India.