I see very bright future for Indian Air Force.Combination of Russian,Western and indigenous aircrafts will make IAF potent force to achieve national security.
Russian sukhois will form backbone of IAF.Su-30MKI ,Pak-fa will give us edge over adversaries over several years and will serve as front-line fighter.
Mirages,Mig-29s,LCAs,MCAs will be complementary to sukhois and can take any kind of mission.
Transport fleet will be comprised of MTAs and other new aircrafts (like C-130 Herculis) apart from existing Il-76s.
Apart from ALH,LCH,LAH newer versions will be added (like Ka-50/52, I hope) to our inventory.UAVs,UCAVs will be developed.
Such multidimentional capabilities will make IAF strong enough to face any challenges in future.
It will be among few leading air forces like USA,France,UK,Israel.