The same rig can be used by replacing the BLDC with the induction motor. However, to simulate most of the induction motor faults, you need a number of motors/rotors with different defects like, cracked rotor bars, loose rotor bars, eccentric rotor, fault winding, loose connection, unbalanced phases (three-phase motors), this is in addtion to mechanical faults such as mass unbalance and misalignemnt

You can use voltmeter and ameter at supply to measure voltage. Current and power .attach an accelerometer and thermocople to measure vibration and heat .use rpm meter and tourqe meter at the shaft to measure speed. Tourqe and shaft power .efficiency can be calculated from out to input power ..