An industrialised India for ww2

This is an idea that's been in my mind for some time now. Let's say that during the interwar period, to cope with the industrial capacity of the USA, the Brits decide to open India up, leading to it's industrialization in time for the second world war.
To make this more interesting, to relieve the burden on the Royal navy, let's have the Indian government pass an Indian Ocean navy act, similar to the US two Ocean navy act,
Remaining as a very autonomous colony, what would it's effects on the course of the war be?