John Fredrick Parker
Donor
India had some industry in the BE -- for example, in their early days most motorcycles (!) were produced in India.
Could there be a focus on building production in India to take advantage of those resources?
I am not familiar with the industrial potential of India however it might require the full abandonment of the idea that colonies exist to serve as resources for the mother country to use.
I'd say that it would have interesting effects on investement patterns, but on the risk is that you see a bubble with excess investment in plant, leading to training and technical education neglected even more than iOTL.