I do not know stuff about technical parts of fighter jets, or the engine sourcing, (geo)politics behind it , order pipeline, effort done by different entities etc etc.
But from a simple standing point, there are certain irregularities , esp with people throwing around that infamous 4 iteration infographic
first, what was their plan with the F404 and F414 ? this is not clear to me , we know engine sourcing was a big issue itself and designers needed to base on one fixed engine for one jet. So from the beginning, why did they think simply fitting a higher thrust engine on a common airframe would solve the issue of IAF wanting replacement for mig21, mirage 2000 class all of these. Perhaps they should have just made only 1 LCA, the current existing mk1a, nothing more. This early one airframe fits all engine approach was wrong.
Anyway, storm brewing in Defence community space currently, while ADA keep working on.
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LCA Mk1 became overweight by 1T, so they needed additional thrust to make up for it. Then they figured out the F404 cannot provide that, hence F414. LCA Mk2 was initially the LCA Mk1 with some modifications and F414.
There were three requirements. One requirement was to replace the Mig-21 with LCA, the second to replace Mig-27 with F-16, M2000 or Gripen C/D. The third was a high-end twin-engine jet to complement the MKI. In reality, we needed 500 MKI class jets, but that's not a good idea politically speaking, plus we wanted more modern tech, hence MMRCA.
So 500 high-end jets and 350-400 low-end LCA + Mirage 2000s. That was the plan.
But due to delays, and a very severe requirement shortage, the IAF relented and accepted a slightly modernized LCA Mk1A which fixes many of the most problematic issues and somewhat meets requirements, primarily helped by the fact that adversaries are no better in this segment. The somewhat fixed LCA Mk1A is a step-up compared to the F-16, JF-17 and J-10C, so it was accepted as a Mig-21 replacement.
Post HAL's welcome interference in LCA Mk1A, combined with all the delays in decision-making before that, helped ADA catch up. So instead of allowing the IAF to import more SE jets, they decided to make one for the IAF. That's how the previous LCA Mk2 now became a Gripen E/Mirage 2000 cousin. The success of Gripen Demo is probably what led ADA down this path. And now, ADA gets SE MII and the IAF can import the TE requirement via MRFA.
So there you go, that's how we are fulfilling all three requirements, effectively 850-900 jets.
FGFA was supposed to replace the MKI 'cause the MKI was designed for a service life of 25 years. But the Russians signed the FGFA's death warrant by making a better MKI than planned. So with its new 40-year life, we could delay the FGFA decision by 10 years, and that's what we have done. Of course, this also led to delaying the MKI's MLU. It was originally supposed to be done in 2014.
We will most likely have 600 high-end and 400 low-end jets by 2045 or so. After 2045, we will need LCA Mk1/A and MKI replacement.
So that's the IAF's fighter fleet in a nutshell.