What are the consequences of putting down a false ethnicity on your application?

As everyone said: Don’t do it.

Race isn’t a joker card you use to get ahead, you probably know that, as you are yourself Indian. If you don’t see how that’s ethically wrong, then think about your own background, perhaps experience of racism.

Your experience is different from an Asian or Black person, so your application should reflect what YOU’VE experienced. If your friend got waitlisted at Harvard (which is already a big achievement), it may not be because of race, same goes for your accepted friend. Those schools are hard to get into for everyone even with the highest stats and achievements, and Harvard wants a well-rounded class, maybe your accepted friend brought something to the school that they didn’t have.

You’d be expelled, for something very offensive and not very smart. So don’t, just don’t.