Few points:
1> F-16 V is a very capable aircraft.
2> It comes with very good electronics, vast array of weapons, and other combat accessories that are necessary (like towed decoy, jammer pod, etc)
3> Any country that buys the F-16V will not regret the purchase. Its a very capable machine and can hold its own against contemporary adversaries.
With respect to India:
1> US frontline combat aircraft is a strict no-no. Just as we saw with the Covid vaccine raw materials case, one can never fully trust the US to deliver at crucial times.
2> Induction of the F-16V will lead to a new type and new breed of system in our already congested plane zoo. It means new weapons, new mission systems, new insfrastructure, etc. Also, US will be very averse to us modifying the F-16V for our needs. Only Israel is allowed to do so at the moment.
3> India's MWF will cater to our needs of an advanced single engine workhorse aircraft. And it will be substantially better than the F-16V and will have a lot of room for improvement. The V is the crescendo of the F-16 design.
4> MWF is what is going to give us an accurate image of our aircraft industry's state as of now, and will also supercharge this industry for the future. Remember that engines are still a major headache for India.
So all said and done, the F-16V should not be procured for India, even though its a wonderful machine.