They will be dead nonetheless. But given the dangerous ground we are all on it is better to move in any direction than forward to deployment, and first strike and second strike forces. What is need is for one or both to declare not to deploy nuclear forces and try to build on that a process of unilateral, bilateral and mulilateral nuclear disarmament. Indo-Chinese ties are very likely going to take a turn for the worse. The slow demilitarisation of the border will probably stop.
Nuclear weapons make border disputes irrelevant, it becomes a matter of life or mega-death.
China will probably target some of its nuclear weapons on India's cities and begin to treat India as a strategic enemy more actively. The BJP has offered India's people up as nuclear hostages. The other nations in the region have been concerned about India for a long time. An assertive BJP intent on imposing a new found authority in South Asia may lead to India being surrounded by powerless neighbours who feel threatened and may become hostile. The BJP have taken India a big step along the road it wants India to go.