India dropped the F35 deal because it is a bad machine or a dud. It has a long history of crashing, software issues, and grounding.
I think India will buy their 4.5 and 5th gen planes from Turkey or South Korea.
India has no good options, or really any options at all except for the Su-57.
That's assuming the IAF wants to induct a 5th gen fighter into service by the early 2030s, if not this decade.
Let's look at the other supposed options . . .
GCAP: Won't be ready until ~2035, if not .
FCAS: Won't be ready until ~2040. That is assuming the program isn't canceled altogether:
F-35: Pretty unworkable for India from the get go owing to typical US terms and conditions for acquiring high end American kit. Definitely not happening after this:

KF-21: Besides being subpar (e.g. no IWB), its inclusion of and dependency on American technologies — including a locally assembled variant of the GE F414 — translate to many of the same sovereign use issues as the F-35.
TAI Kaan: Also dependent on American turbofans, at least until ~2035, if not more likely 2040+. However, the even bigger hurdle in play is the de facto alliance between Turkey and Pakistan:
This leaves India with two options: having the "shit gouged out of them" as they deserve, yet despise by the Russians, or continuing their pursuit of the AMCA program, which will turn out as well as the LCA program.
Knowing New Delhi, they will likely pursue both, only to find neither program particularly satisfactory.
In short, to the detriment of Indian bellicosity, and to the benefit of regional peace and security, the IAF is "basically fucked."