The development of R-77-1 was cleared in mid 2000 and it was supposed to be the standard weapon for SU-30MKI. IAF asked for this version the moment russians offered it to IAF. However the order from IAF did not come till after Balakot. This delayed the operational deployment of this missile as Russians were having financial problems then and had very limited budget to develop this missile.
But even if it was mass produced in 2015, why did we not go for it when we knew that F-16s now outrange our main fighters?
The one released in 2015 was the Russian version, it's unclear how long the export version, RVV-SD, took to become ready. Then we need to follow it up with flight trials of our own, then contract negotiations etc. It's unfortunate that the Russians took so long to develop an Aim-120C equivalent. However their main focus is on the R-77M.
And, as I have pointed out before, DRDO does a splendid job of vetoing imports. Take the IA's QRSAM requirement, they said they will accept 5 regiments of DRDO's QRSAM while importing 3 regiments of SPYDER SR. This was promptly vetoed. DRDO pointed out that they will deliver the QRSAM for user trials in 2019 and have it delivered from 2020 onwards. But it's already 2021 and the user trials are yet to begin (although it's set to happen very soon). Development trials completed last year in November. So instead of having even 1 fully operational SPYDER regiment inducted and placed in Ladakh, while in the process of inducting the third this year, the army only has a few prototype batteries of the QRSAM deployed in Ladakh. Similarly, the SRSAM requirement for 2 SPYDER regiments was also scuttled in favour of Akash Mk1 Prime, which is yet to be ordered as well.
However, to be fair to DRDO, even the IAF was interested in Astra over importing Russian missiles, so it's likely that the IAF also miscalculated, although even if they wanted to, they wouldn't have been able to procure RVV-SDs through the normal route regardless. Anyway, the IAF wouldn't be working on Derby ER if it wasn't for emergency purchases, the DRDO would have vetoed even that due to Astra Mk2. And now, with SFDR's success, you can bet the DRDO will veto any Meteor-related purchases for non-Rafale aircraft in the future. DRDO can put the UNSC to shame.