I would like to question the need for a new aircraft. India doesn't have any stealth aircraft in her inventory, and it doesn't look like they will be getting such aircraft any time soon. Instead of investing in a new aircraft, we should be concentrating on bolstering our air defense measures. The thread here:
https://defence.pk/threads/here’s-what-would-happen-if-us-tried-to-strike-russian-backed-targets-in-syria.455473/#post-8805139
gives a very good analysis on the relative strengths/weaknesses of the best aircraft in the world vs. the best air defense system in world.
A slightly related question for our members here: What good would be a 5th generation fighter if we only come to know of the Rafale's threat when it is about to strike? We cannot have AWACS in the air 24/7 for our full border with India. As a matter of fact, if India wanted to play dirty, they could very well attack from bases in Afghanistan! So we would need AWACS 24/7 in the air on both the eastern border and the western border. The only real solution is to invest in a best of breed ground air defense system, including radar and anti-aircraft missiles. I hope the new university planned by PAF gives a high importance to indigenous research on air defense systems.