Last I checked, the fighters they have in the running in the MRCA competition, after they strayed far away from the original intent of the competition, are considered front-line fighters by most folk (although the F-16, MiG-35, and Gripen represent “older” options than their competitors. Far as strike options go, I’d think their Su-30-MKIs could serve admirably in that role, and Russia’s sure to offer them the Su-34. Far as indigenous programs go, things look a bit more dismal, though I eager look forward to the adoption of the Tejas as the long needed Fishbed-replacement. India maintains a qualitative edge over every possible adversary with the possible exception of the ChiComs.