For the moment, we have not taken up this option.
I don't believe any of that will come to pass anytime soon. An Asian NATO under US leadership is against Indian interests. And both India and Russia have leverage over each other. Plus even they will be opposed to an Asian NATO, and of course, they don't want to get sucked into a Chinese-led alliance either. Basically, both India and Russia prefer the status quo even if both get involved in border wars.
With US-Japan and AUKUS, there's already an Asian NATO present. What they are looking for is more members? Like India and SoKo. But do you really want India to fight American wars defending SoKo, Japan or Taiwan? It's basically more responsibility at the cost of sovereignty. And losing sovereignty is serious, we can lose market access in some areas, we will have to permanently give up 20-30% of our own domestic market to the Americans and so on, basically what the US did to Japan, and that ultimately crushed them. All the castrated European countries are enough of living examples of what happens without sovereignty.
That's what we feel from our perspective, with the information we have. But they are naturally assuming they will win, which is the point of attacking us in the first place. To China, attacking Taiwan will have far worse rammifications than attacking India. Although it appears that even the Chinese have underestimated the scale of the sanctions possible, I don't see the world behaving the same way as they did with Ukraine when it comes to India. The Chinese may also prefer to rip all bandages at once. Deal with both problems together and get sanctioned only once.
What's interesting to note is that, at least on paper, the Chinese have a localised advantage in the air over the USAF at this time. With F-22s lacking range and numbers, alongside delayed modernisation, and the F-35 still WIP, and no modern AAMs, the Chinese probably think this is the best time to ensure air superiority over Taiwan.