From what I have read the IN eventually settled on the MiG-29K as a decent compromise between overall performance and size. .
Which again suggests that we had a choice, which we didn't because the Su 33 was out of production and not suitable for a medium class carrier like the Vikramaditya. But also because the Russians wanted us to fund the Mig 29K production, since they wanted that fighter to, as a low end for their future carriers. So from the Russian side, there was only 1 option available and while the IN asked western vendors for compatibility as well, the Russians closed that door by insisting on their fighters / aircrafts + the carrier.
The Su-33 clones the Chinese are flying are HUGE and flying a heavyweight fighter from a medium class ACC .
That's not correct, they have the sister ship of the Russian carrier, which both are large size carriers similar to what we aim IAC 2 on. And the only limitation they might have is, to refuel after take off for long range or heavy loaded missions, but that's the same penalty IN has to deal with as well, since it's a result of the ski-jump take off and not of the size or weight of the fighter. That's why Mig 29Ks with heavier loads can take off only from the rear take off point with maximum take off distance, but also burn a lot of fuel which then needs to be refuelled after take off again.
Of course the latter and this is clearly what the IN is working towards but it can't happen overnight....
That's the problem, IN is not working towards it! There is no fighter program or even a fighter concept for IAC2 available so far and IN is wasting time and money with NLCA instead. So even if IAC 2 would come with catapults and by 2025, IN will have no option than to import fighters again, because they haven't started any naval stealth fighter developments and will be dependent on DRDO / ADA converting the IAF AMCA again and that would come not before 2030. Freaking 15 years from now and in the meantime PLAN not only catches up, but easily surpass our carrier capabilities by far.
The only area where PLAN will challenge is nuclear subs. Assume that IN places 3 ACs in IOR, to match the same China would need to have at least 6 ACs spread over the area and that looks unlikely. So India would need to increase not only offensive capabilities in forms of own subs but also more P8i and similar counter against PLAN Subs.
Perhaps developing a large base in Andaman and nicobar could be an option.
PLAN's sub fleet, nuclear or conventional is the biggest threat to India anyway, because it's hard to detect them in such a vast area. A surface fleet on the other hand, would be detected days before they reach the area, which leaves enough time to prepare, for example moving fighter squads from shore bases towards the forwarded airbases at A&N.
But you are mistaken about the carriers, since even the current Chinese carrier is bigger than Vikramaditya and IAC1, which is why it carries roughly the same number of fighters as both of them. So all PLAN needs is the current and 1 more similar carrier, to counter all 3 Indian carriers that we will have and if they will come with navalised J20s, while we still bet on 4th gen fighters, then good night for IN.
