your bisons jaguars mirages are gona retire soon- the intended replacement LCA is not good enough-
dont compare LCA to MKIs or Rafales- it was never meant to be for such roles-
The Mig-21bis was inducted in late 80's and they are newer than your mirage fleet and F-16 fleet.
The Mig-21bison was inducted in late 90's and last delivery in 2002. do the math
The Jaguar was inducted after your mirage fleet was inducted and just 2 years before your F-16's were delivered.
40 Jaguars were inducted b/w 2000-2007. They will serve a few decades.
M2K is undergoing a complete refit, overhaul and upgrade. Not retiring anytime soon. 2040-50 at least.
Your Mirage 3,5 are the oldest most ancient fighters in the subcontinent and they need to be retired before anything else.
The intended replacement LCA is probably not going to come into service in decent nos ever and the IAF realises that. Matter of time before an alternative like Gripen is chosen. Price difference isn't much.