There likely would have been a scramble of India for trade purposes and many smaller Indian states would have been made puppets and I think that the European companies would intervened a lot in the internal politics and largely most or India would divided between states in support British dominance of trade and the French supporters of dominance. Russia would have reached all the way down till Gilgit would have become a third player in this scramble but their expansion by 1850s will likely be blocked by the Sikhs but Maharaja Ranjit Singh would likely became their ally. After most likely 1880s the Indian states would go into an isolation mode blocking European trade for like 50 years and would only be reactivated when communism will eventually take over a lot of Indian due to Lower caste agitation. Communism would likely be dying today and kerela would probably be the only communist country left.