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The Mig 29s and Mig 21(Bison) are superior to anything Pakistan currently has (weapon suit, electronics, sensors, avionics and radar etc). However the tech edge is very thin and short lived and good enough only until then next batch of advance fighers replaces it.

Err, nothing about the MiG-21 is remotely up to snuff, but the 29s are. India also have a large number of MiG-23s, which are long in the tooth and not first line at this point.

The current Indian air force is lead by 68 SU-30s, their best. They also have a few squadrons of MiG-29s and 2 of Mirage 2000s (40 ac). That is their air superiority force. They have a large ground attack force consisting of 80 Jaguar (UK) and at least 120 MiG-27, plus many MiG-23s. They have old MiG-21 and yes they have been modernizing some of them, but even a modernized MiG-21 is a crappy airplane compared to any of the above. The Pakistanis cannot match the Indians with F-16s for each advanced SU or late model MiG as it is, and will be way behind after this order, whichever type the Indians eventually pick. The Pakistani second line are old Mirage IIIs and Vs and their own MiG-21s, in every way outclassed by the top half of the Indian fleet.