In all honesty, I see this deal going through. The French are going to come to the harsh realization that without this deal, the Rafale dies (both for the international market and local production in France, which means loss of jobs, decrease in economy, the whole nine yards.). French will suffer more than India without this deal (BLUF).
But in the minute possibility that it doesn't and India tells the French to F-off (which i would love to see happen to those arrogant bastards btw), there are only two other logical options (Eurofighter and SuperHornet). The other three contenders would be disqualified for the following reasons.
1.) Mikoyan MIG-35 - Can't have all your major fighters sourced from a single vendor and can't trust them for parts nor can you trust them to deliver in a timely fashion. Also it's the least capable of the bunch.
2.) JAS-39 Gripen- With the Tejas MK1 and MK2 quickly coming along, the Gripen is pretty much useless.
3.) F-16-IN Super Viper - Logical reasons... Pakistan has them, no future for these jets as they are coming to the end of their life.
The only options left are the Typhoon and the SuperHornet.
1.) Eurofighter Typhoon- Do you really want a jet that Pakistan has easy access to (from Saudi's)?
2.) Boeing Advanced Super Hornet- Limited ToT, most capable AESA radar of the bunch (by a mile), has some 5th generation technology, similar engines as on Tejas MK2 for commonality, comes in a two-seater format, will deliver on time (or most likely ahead of schedule), and has a future well into the 2025 years.
India is running out of time, you wasted 10+ years on this nonsense and now your Squadron strength is declining. Either keep playing the cat and mouse game with the Frenchies for another 2 years or so or... get Hornets, build up squadron strength, pump saved money into TEJAS/PAKFA and have a full 4.5/4.75 generation fighter jet inventory with 5th generation jets in the pipeline.