If we could aquire very good Russian designs like the rest of the world can, we could significantly cut the cost and have a more effective heavier than air assault unit/ defence unit.
India has a big Russian airforce they buy the SU's all the time, best bang for your buck they say,
Build that hot new Russian T50/PAK FA airframe under licence, put Rolls Royce engines in it, the most modern Western avionics and weapons and it would probably be the best aircraft up there.