I do not think Indian Air force would Opt for American jets like F16. Pakistani air force has been flying American jets for last 50 years so they know them in and out. Heck they updated there F16 to make it nuke capable. Same goes with India. Pakistan was offered Su27 back in the late 90's from...
I can answer your question.
India is a big economy but poverty there is huge. I mean huge. more then 400 miliion people live under the poverty line thats more people then all of USA and 4 times more people than Pakistan. Pakistan on the other hand does not have that big population so poverty...