As much as the Phalcon radar is capable,the availability and on station time is affected by Il76 airframes limitations.
I used to follow the Russian defence forum till 2018 I think, Russian MoD had then placed orders for 28 new built Il76 airframes worth 100 million USD per piece built over 30 years. The second plant Taskent one , is not functional since 2012. So that means new airframes even if we order will be very costly and have long built times.
Compared to that EMB 145 airframe is continuing production and is worth less than 30 million USD a piece. They have proven higher availability rates and the IFR means extended time on station.
At this moment I think we are better off without the Phalcon import. And after the sanctions on Russia , it will be very difficult to buy the airframe, diamantle it piece by piece, transport to Israel , re assemble and then fly to India. During Repairs first going to Israel , stripping all its western components and then flying to Russia for refit ? It's difficult thing. 3-8 EMB145 based systems upto 2028 will be a good and value for money investment.