Perhaps, yes, two-tier system:
A British Commonwealth ( BC ) consisting of:
1. Concentrate the white settler colonies into expanded unitary ( but internally devolved in various degrees for practical reasons ) United Kingdom ( UK ) of England, Wales, Scotland, Ireland, New South Wales, Queensland, South Australia, Tasmania, Victoria, Western Australia, Ontario, Quebec, New Brunswick, Nova Scotia, Manitoba, Saskatchewan, Alberta, ... ... Hong Kong, Singapore, New Zealand, Oceania, Carribea ... ... + the white colonies of South Africa, Namibia...
UK with single Parliament, Gvt etc. in London.
and
2. Indian empire ( IE ) - to which to be given/included all the non-white lands - Africa, Papua ... ...
IE - federal state of hundreds of states, provinces and territories governed by a vice-roy appointed for 4 yrs term by the UK king after election by the IE 2-houses separate Parliament with approx. the powers of the US President.
such IE will have the power, economics and demographics to keep the African colonies and even to expand in Africa. ( per instance Congo and Portuguese Africa joining "voluntary" at some point ).
I reckon Hindustani elites would prefer to be furnished with and empire for free instead of being "independent".
BC = UK + IE = NATO like military union with joined command + EU like monetary, tax, economical union...
I guess such structure will be stable.
such BC would have both the strongest economy and the biggest population / territory in the World.