An Indian-funded battleship and the birth of a navy

Could Indian princely states have helped pay for a British Empire capital ship?

Yes, especially if the ship were tied to establishing an Indian navy; such a vessel would likely become a powerful national symbol.

Princely-state support becomes plausible if a capital ship is presented as the foundation of an Indian navy. The vessel would carry institutional and national meaning beyond its tactical value. A ship associated with naval coming-of-age would likely receive intense public affection and long preservation. Funding arrangements can shape both force creation and later maritime memory.