Britain will still be the main innovator, the one that defines economic evolution. But it will be far less profitable because contrary to british India, french or independant India won't freely accept to destroy its own craft factories.
It means the industrial revolution will be slower and different too. There will probably be less specialization as theorized by David Ricardo. Britain pushed the logic of specialization much further than most other economic powers did.
This also means Britain will be forced to be much more compromising on the industrial stage than it was OTL. Because it won't have the Indian milkcow to pay for its wars. It won't be able to support such a big Navy nor to wage all-out wars for so many years as it did OTL in the revolutionary and napoleonic wars.