I agree, but maybe luckily for India, the JF-17 are not as big a deal as the PAF claims they are.
The MMRCA RfP is out, response deadline is March 2008, then there will be a short-list and selection, government approval? and finally negotiation, lead-time, tailoring work, test-time, acceptance tests, training... well let's say they'll have their new jets by the time we're flying F-35s and their Flankers have started rotating through maintenance for their first major overhaul?
That, or if speedy delivery is a requirement, it will be a very easy selection: MiG-35
The Navy is getting the MiG-29K/KUB, I'd scrap the MCA plans... and try to get some surplus Super Hornets or better new F-35B/C in the future. Spend that money on the conversion trainer instead.
PS: Looks like your smileys are not working? You know you can just type ; and ) to form