An early independent India and imperial basing

How might the world wars change if the East India Company collapsed, India became independent but British-aligned, and built its own battle fleet?

Britain might retain Ceylon separately, share Singapore with the new Indian power, and carry a smaller Asian defence burden, depending on the basing settlement.

The viewer imagines the East India Company collapsing during the American Civil War and an independent but British-aligned India emerging with naval ambitions. Ceylon was administered separately and might remain under British control through Royal Navy intervention. Singapore could instead become a jointly supported base with forces from more than one power. The principal strategic effect would be a reduced British burden in Asia, though the result depends on which ports and islands remained available.