In the next 5 years they definitely would have over 500 J20s(that too with advance supercruising engines) at the rate they are acquiring them.
But then India's cutting edge SAM acquisitions and strength would also increase by multifold. And Himalayas shall always create more problems for the attacking Chinese than us.
But increasing J20 numbers is a definite worry for us. From 2002 to 2017 we enjoyed tech superiority over the Chinese thanks to MKI. But now I am not too sure even with Rafale acquisition. We need at least 50-100 5th gen planes in the next 5/7 years to counter this Chinese 5th gen threat. Looks like our AMCA would only come online post 2030. So what are our options? Su57 or F35!
Nothing new's gonna happen in the next 2 years, and in the next 5, all we will have is jets on paper. If the Chinese attack us in the next few years, then there's no time for anything new. I suppose the forces have assumed that any war between the two will be a short war in 1 sector, like Ladakh, so we have enough for that. At best, we can hope the French can transfer another squadron from their stocks as attrition replacements.
In the long run, I don't have any real ideas apart from MRFA and AMCA. At least we know that by calling Rafale 4.5th gen, the IAF Chief has made a clear public distinction between 4.5 and 5, so I won't be surprised if a Su-57 v. F-35/NGAD contest happens. My personal AMCA timeline is 2040+, so I feel we need something as a stop gap between 2030 and 2040 that's not MRFA.