If India gets involved militarily they will suffer alot but Usa will be okay, as usual Usa will use other nations to do their dirty work. India best bet would be to stay out but give political and economic support to the Quad, China will suffer alot and this way India can catch up to China, maybe even replace it as the soon to be the biggest economy in the world. Don't forget Russia will never support Indian military involvement in Taiwan v China.
If China invades Taiwan, they will use full force, I know it looks like another Ukraine Russia war but it will be different and deadly. But I don't see any benefit of China invading Taiwan as majority of the population is Han Chinese, they would rather wait it out, become economic/military super power and Taiwan people will themselves want to join China. Similar to Hong Kong.