Lighter weight, packing the punch of 7.62x51, with better optics and also the 5.56mm carbine version, sounds like an excellent combo. If the Army goes for it, this could be really good.
The alternate is to buy into a foreign license, spend millions on PoF assembly lines for which the GoP/MoD has no money. In the face of such restrictions, you have to improvise.
Specialized units can continue to import certain weapons as needed but if the Army on the whole can standardize on an upgraded variant, this would be good.
Indians just ended up with Sig 716s because they missed their SLRs and realized that 7.62x51 is still a potent round. PoF never went away from that. If G-3 manufacturing lines can be upgraded to get the army a lighter 7.62x51 weapon, I think its not a bad deal at all.
I can assure you, quality wise these would be much better than the INSAS that the Indian Army has used for over 2 decades and it has a more potent caliber to boot.