Wade was hit on his cheek while facing throwdowns during Australia's final training session.
The pint-sized gloveman went on to bat through the session after the freak training incident but precautionary scans later confirmed a facial fracture.
Cricket Australia said in a statement that Wade is likely to take his place in the line-up for the second Test, but still left open the possibility that he could be ruled out if he was to wake up with swelling or bruising tomorrow morning.
If the selectors were to require a second wicketkeeper to fly to India, Brad Haddin would get the job, but the team medical staff was confident Wade would be fit.
"Matthew Wade copped a knock to the cheek while facing throw downs in the nets this afternoon but batted on during training," team doctor Peter Brukner said in a statement.
"We sent him off for a precautionary scan after the session and he has a minor fracture, but has subsequently been cleared to play provided there is no excessive bruising and swelling overnight.