We are making use of C 295 for everything now, as it could be Sanctions resistant.
Hopefully we ll get MTA that can be used for multipurpose like tanker and 360 awac .
We could try truly be independent if we could get an engine deal leveraging civilian planes.
C-295 isn't useful for most roles 'cause it doesn't have jet engines. As a tanker it can refuel helicopters. As an AWACS it cannot support the IAF's requirements 'cause it cannot fly at mach 0.85 nor does it have sufficient service ceiling.
The C-390 is a better bet for all roles except the tanker role.