Rohit, this replaces Akash for IA, basically IA has been stating they wanted a smaller, more compact system with fire and forget capability. Those first 2 regiments are Kvadrat replacements per IAs original requirements. As versus trying to make a more powerful system (Akash) into something it's not, better to design a new compact system. Akash is basically an all up integrated network by itself. QRSAM is more of a mobile picket type system (its radars and sensors will be capable but not in Rajendra & 3D CAR capability).
So, IA wants something like Tor. QRSAM is a good development and we might see this in trials in the next 2-3 years for the full system, and missile trials may have occurred earlier.
Reason I say this is because i track subsystems and budgets. The QRSAM budget approval was mentioned last year itself (eg funded program) and subsystems exist, including the crucial missile, which i suspect will be none other than a variant of the Astra.
The radar might be a variant of the hush-hush MMSR (which we don't know much about but that its in advanced development at LRDE with prototype development underway, which means initial design, software development have all reached a degree of maturity). My take is MMSR will meet both IA AD and IA WLR requirements with a single system which can be customized for both (software etc).
Sight will be SEOS.http://www.drdo.gov.in/drdo/pub/npc/201 ... eb2016.pdf
40km range capability? No wonder a less expensive LOS system was developed for Arjun. This can easily supplant the radar in high EW environments. Though RF + search radar combo (IMHO) will not be as robust as Akash GBR on non traditional bands and high power. But this will fix that with an alternative. And even Akash Mk2 will get it per reports.
For launcher systems R&DE has the capability and so do L&T, Tata SED.
Power units (Mak controls and others), C3I from DRDO which can be made at ECIL, BEL, Tata.
In short building blocks are there and system fabrication is in progress. Tenders went out early last year itself for missile parts etc.
For AF, Akash Mk2 will follow, post Akash Mk1. DRDO is playing it safe with range of 50km, below MRSAM of 70km. I personally feel it was a mistake and they should have thought of matching MRSAM ranges. Until and unless minimum range is lower than MRSAM (which would at least make sense). The talk of TOT apart, time will tell how much BEL really makes (especially the radar).