It is ORCA not LCA. A medium weight Aircraft. Yes, it is design as per the requirements of Indian navy. It has fordable wings, Engines are mounted near to each other, Canard, large wings to create better lift, elevated cabin for better view etc. The most important of all is very powerful engines. Now it has to be seen whether GE 414 are used or GE 414 EPE are used to further enhance the performance.
If Rafale is rejected , no other carrier fighter will be selected, IN will continue with Mig 29 k with some modifications.