Proposals for the Indian Medium Multi-Role Combat Aircraft (MMRCA) competition were sent in recently. See my earlier post here)
A good rundown on the competitors is at the link, though I count the IAF’s familiarity with Russian equipment as a plus, not a minus.
The competitors are the MiG-35 (a Mig-29 derivative), Gripen, Rafale, Typhoon, F-16 and F-18E.
I think that the US fighters may be ruled out because of the effects of possible sanctions in the future, the US is much more aggressive in these actions than the French or British.
The Rafal and Typhoon are too pricey.
This leaves the MiG-35 and Gripen, with the former being cheaper to buy but more expensive to operate. The upgraded Gripen closes some of the gap in payload and range, but both are far superior to the MiG-21s that they would replace.
Then again, we know how good my predictions are.