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Waiver is not equivalent to membership.India already had waiver for the NSG, even if we didnt get the membership, that does not mean that nuclear commerce with member states will be stop, we already had all the pleasures of membership without getting the membership, it is loss to China, as India will be more closer to uncle now, than before.
China is well aware about waivers and that we are not much to gain with membership of NSG, on its part a part from appeasing the Pakistanis, China too didnt gain much from it, on the contrary it has others members seeing the rigid attitude of China and its satellite state Pakistan making negative publicity about India, so that it will not get NSG membership.
Now India will not only be close to Uncle, but it too will be quite vocal against the China and it have some sort of presence in south China sea and arming Vietnam against China.
In the end it is China which has lost most.
All decisions of NSG are by consensus, By being a member India gets a certain diplomatic clout,
Also India will be able to export items for N plants abroad in future if it has full membership, which is the prime reason china wants to ban us from NSG.