Depends how far India goes. India is a big customer for Russia, so it would have to be a major change of foreign policy to lead to India being cut off.
Russia has sold India plenty of material, but there's no realistic prospect of it providing direct assistance if India was involved in a military conflict. Can Moscow really complain if New Delhi cooperates with countries that might, in theory, be willing to back it up to even a limited degree?
I think Russia's recent comments are fairly cynical and are simply designed to try to convince India not to join with the USA and its allies in forming a counterweight to China, because for now it suits Russia in having China cause headaches for said countries. Is there anything behind those words? I'm not so sure.