Why not. The M2k will have to be phased out sometime like all other aircrafts & we will still need to invest in a new platform. I'm still not clear why Gripen could not have been opted for continuing to keep the M2k in the same state for the next few years.
As I said, because it's a new type of fighter, that needs new training, tactics, maintenance..., but the M2K was not to be replaced, which would have justified a new type, but to be upgraded to extend it's life in IAF, which is more than happy with the fighter.
It's like you have have a car, which you love and that does perfectly what you want of it, is highly reliable and has no other issues. But instead of buying the next set of tires and giving it some new oil, or replace a few older parts, you consider to buy a new car, only because the parts are expensive.
The fact is, the M2K is a great fighter for IAF and will be even better after the upgrades, it most likely have crucial roles within IAFs tactics, which can't be simply changed either and IF they would want a new type of fighter as a short term replacement, the most logical choice would be additional Mig 29SMTs, or Rafale, since the earlier is already available in IAF too and the latter is based on the tactics and logistics of the M2K, which makes a switch easier. The Gripen, EF or any of the US fighters would never be considered, since IAF would have start from zero again and that's what many forget while comparing the upgrade cost to the cost of a fighter, which btw is often only the flyaway cost, not the system cost!!!
No point in giving additional orders unless the French see it our way.
There are many points for that:
- reduced costs of the overal procurement, since higher units reduces the unit costs
- we can ask for more ToT/offsets or additional leverages as you wanted
- on the other side, buying a new type in low numbers means high unit costs and low leverages
- adding types of fighters increase overall maintenance and logistical costs
- adding types of fighters, that doesn't offer tactical advantages, make operations more complicated
...
...
...