WRCKid, pls name one Russia-China developed aircraft? I can't actually, only the Su-30MK3 maybe which appear to be in the bin now, and numerous examples of China producing Russian aircraft under license and then develop their own subversions. Or Russian tech knowledge being sold to the Chinese. But I haven't seen any co-developments?
I have to see how this will work out as well. I think it will more like Russia produces the fifth generation T-50, then "co-developes" an Indian version with some Western/Israeli components, and let HAL produce half of the IAF fleet.
I've only quickly scanned the article, but here's what I know. Indian-Russian fifth generation fighter talks started back in 2001. Now, the article seems to leave the MiG option open, while it's not. Russia has selected Sukhoi and what appears to be its T-50 design for it's relaunched PAK-FA program. Now, I think it is extremely unlikely that MiG's LMFS proposal will make it, although in 2005 this one seemed to be the 5th gen Russian-Indian plan. However Sukhoi and probably the Russian government have been pressing the T-50 concept to India ever since, and it seems Sukhoi reached some sort of an agreement on the PMI (Future Multifunctional Fighter) with India last year for these latest intergovernmental agreement. Now, it's the Sukhoi OKB and KnAAPO/NAPO, not Irkut... maybe they don't know about dealing with the Indians yet, on the other hand with such a big multi-billion project, the bosses will just say: make it work. And you can bet on it that that isn't just the Sukhoi boss, you now have the OAK head, and he'll be told by Putin what to do...so...
Anyway, my thoughts: PAK-FA first flight planned for 2009, with first stage versions to roll off production line in 2010 (hehe, we'll see). Second stage aircraft with definitive configuration to enter production in 2015. So if India wants new fighters in 2018-2025, they could have some co-developed 2nd stage aircraft. It's kinda like the JSF project, you join 10 years before you need them to get a say in the development and some workshare. In the end, the other nation will have had the upper hand in decision making, you don't get full tech transfer, and the orders and workshare are not as big as hoped, plus dev delays and low initial production rates will mean it will be more expensive and later.
Should India join? It's their best chance at getting a customized fifth generation fighter within 10-15 years.
It doesn't matter whether it's ten years behind US currently, as the US can't/won't offer a fifth generation to India within ten years, I reckon. Plus, it doesn't need to be better than a US fifth generation fighter until Pakistan gets that or China have outdone the Russians by then.