Yes it does not...because there is no space in it. it is as simple as that. it is an AEW&C not an AEWC&C
That's not correct and I think you mistaken the terms AEW and AEW&C. AEW is just an older term that discribes basically the same and DRDO AWACS will be able to do basically the same as A50 Phalcons in the detection and comanding field as well. The difference lies mainly in the effectivity!
Platform:
EMB 145 is smaller and offers less space for operators, equipment, or restrooms. AFAIK the highest number is 6 operators, while the A50 has twice as much. While the endurance of the DRDO AWACS is limited mainly on the human factor (both aircrafts can be refuelled in air, so that is not the issue), the A50 can carry even a 2nd crew, in the restrooms, that even included beds. That means you need at least 2 x DRDO AWACS for the same endurance of an A50 Phalcon AWACS, but on the other hand, 2 x aircrafts can cover more space as well.
Radar:
The A50 today uses a fixed dome with triangular radar arrays, that offers full 360° radar detection, so without blind spots, although the overlapping areas should have not the same detection range.
The DRDO system uses a twin array which offers detection to the sides only, that means it will fly alongside the borders and will use overlapping flightpaths to cover the other areas.
With bigger powerplants the A50 arrays should be able to get a higher detection range too, but these figures are mainly classified, or estimated only.
Saabs Erieye system is said to detect fighters up to 350Km range, the A50 Phalcon around 400Km (media, or wiki reports often talk about Phalcon AWACS, but don't consider that there are different versions of Phalcon AWACS, which obviously don't offer the same detection range),
The DRDO system is expected to be slightly below the Erieye ranges.
Radar system:
Elta is known for their good radars and the Phalcon system is said to be one of the bests. DRDO instead is a new player in this field and is just at the begining, even if they got help from the Israelis, so there should be no doubt about which one is more capable.
Both systems will do the same job, but the A50 offers advantages as a platform, the radar offers advantages in coverage and range, the Phalcon system advantages in capabilities, but as a cost-effective addition to the Phalcons, it will be more than useful.
The surveillance area is imo the most important area for our security and we have not only a very large area to cover, but also numerous of borders. So the biggest mistake we can do is, to bet on high capable but costly aircrafts only, when we need mainly numbers here.
More Phalcons are needed, but we should go with more Embraer / DRDO AWACS as well, to have a lower cost alternative in higher numbers.