Well, as fas as the LCA is concerned I know it's way behind it's scheduled time but the progress is on the run and by next year or so it will be into production. As far ar the stock comparison is concerned, IAF still has much more than what it needs to counter any kind of threats. LCA will add to the already existing force but yes Mig 21s need be decomissioned asap except the latset trench of with the upgraded avionics.
Currently IAF has 250 Mig 21s including 108 Mig 21 upgraded Bis, 69 Mig 29 which are under upgradation to the SMT standard, 124 Su 30MKIs out of which 50 are going through upgradation as well, 51 Mirage 2000s for which again the deal is to be finalized for upgradation to 2005-Mk2 standards. And for the ground attack role we have 122 Mig 27 which are being upgraded to Darin III standars and 102 Jaguars already upgraded to Darin III standards. LCA is just waiting for the full operational clearance by 2010 end and after that already 48 are on order and shall not take time when it's into full production.
Whereas Pakistan Air Force has 45 F-16s including 41 Block 15 (A/B)and 4 Block 52+ in inventory, for the rest the upgradation starts in Oct 2010. Apart from that PAF has 121 Mirage IIIs which are out of the question here, 60 Mirage Vs, 192 F7s and, 41 Nanchang A-5 whiche are going to be replaced fy JF 17s by 2015 starting now....
PAF will have 250-300 JF 17s by 2016-2020 whereas IAF will have a total of 250 Su 30MKIs by 2015. By then the F-16s are planned to be upgraded to the block 52+ standards and IAF will have the upgraded fleet of it's Mirage 2000s to 2005-MK2 and Mig 29s to the SMT standards. LCA will be into full production from mid or late 2011. On top of all this Indian Defence has the MIG 29K already inducted in it's fleet and in total 16 of these aircraft will be delivered to IN by end 2012. An additional 29 MIG 29Ks are already on order and should be here by late 2015 most possibly....
Also the news sources says that all of the MKIs that IAF has are being undergoing the full upgradtion to the SU 35 standards and beyond that with the help of the INDIAN, French and, Isreali technology. If you see the in the Aisan supcontinant MKI is the most lethal combat aircraft and IAF is going to have the PAK-FA in it's own customized way of FGFA with many components different from that of the PAK-FA. Though let's keep out the FGFA thing for the time being as it will be here not before 2015 or 2016 if everything goes as planned.
Any comments??????????????
There is no point in comparing the PAF with the IAF with respect to only F-16s and JF-17s. Compare it as a whole to find the difference....