It's an important step to achieve more security not for these islands, but in the whole Bay of Bengal area, because with some capable fighter squads there not only air superiority can be achived, but also sea control and a credible strike option. Everything that an aircraft carrier would offer us to, the only difference is, that the location is fixed and the numbers of aircrafts could be way higher.
Personally I still say, we should divert the fighters to IN airwings and not to IAF, because maritime attack is a prime role of the navy pilots and it would be easier for them to have common training and tactics for all carrier and shore based fighters. It also would make the coordination easier, if IN vessels would need air support for example, same reason why IA now gets their own attack helicopters.