What better time to talk about this than on the day when we learn that Ashley Tellis might be a contender for the new Ambassador to India. The link below presents his updated analysis on the state of IAF (as of March 2016).
Recall that Ahsley Tellis did a detailed study for US via the Carnegie Endowment at the time of the original MMRCA tender. At that time, he gave an excellent articulation of why the IAF needed the MMRCA in large numbers due to the steady growth in the potency of PLAAF in the Tibetan region. He has now updated his original report, and it makes sobering reading. He might be a tad too dark regarding IAF's deterioration in conventional capabilities vis a vis PLAAF, but his arguments are substantive. Of special interest to this thread is that he articulates the case for a 55-60 squadron IAF to maintain conventional edge over combined PLAAF and PAF, in case of the worst case scenario of a two front war. If one accepts his numbers, then the currently envisaged policy of MIIF-single engine followed by MIIF-2 engines makes great sense, and there would be no problem in sustaining two strategic partners in addition to HAL.
His case makes most sense in the context of India's NFU policy. NFU can only be credibly followed by a power that can project a dissuasive conventional posture. If PLA were to somehow overrun Arunachal Pradesh through conventional means, what good would a minimum credible nuclear deterrent do?
http://carnegieendowment.org/2016/03/28 ... -pub-63123
This is a superb piece of analysis, and it has obviously benefited by the level of access AT enjoys with the Indian defense establishment. The summary page is educative and punchy enough, and the report is packed with eye-opening facts. I am not done with it, and will post later unless someone else wants to do the honors.