Jayanta
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Why would you need a lighter fighter jet when you have Sukhoi-30 & 5th Gen Stealth onboard? Moreover, There would be no comparison of 5th gen stealth against 4+ Gen fighter if war occurs.
It would work as a base for developing indigenous fighters. One cannot always be dependent on imported fighters, you never know when a sanction is imposed or when a suppliers refuses to supply crucial parts during crunch situations. LCA although have foreign component has given rise to an indigenous program.
Well it might have taken a little more time than expected, but the experience gained will reap benefits in the long run. It takes some time for things to mature...be it our missile programs, space programs..all had its fair share of delays and failures....but once things got streamlined...."success k piche nehi excellence k piche bhago"...kamyabi jhank marke piche aayegi.