Still, better then Egyptian air force which is mix of all.
However, if india proceeds with F-21s, after 15 years India will only have American & French fighters from foreign countries. As most of russian fighter jets would be phased out or nearing retirement.
This is true, however it goes both ways. India by receiving F-16s most modern variant and by experiencing it first hand will know what kind of advantages PAF had. They will know exactly what extra features they will employ with latest variant to offset PAF's F-16 capabilities. We can eve boost doing exercises with Qatari Rafales that we now have experience of how to deal with Rafales, So owning a platform and with local manufacturing, it will be matter of time india will know all what PAF had in its cards. But good news for us is that F-16 is not the only aircraft we fly, the J-10C and its future variants will form PAF's tip of spear.
This is true because india is world's top 5th economy. We will not be able to match india's purchases if we don't change our mindset. We need to stop thinking about military equipment. We need to only think about our economy. Once we are a strong economy then everything else comes as a by product including latest tech military stuff.