I believe that trade doesn't always happen in monetary terms,sometimes mutual benefit that both partners gain from deals overcomes all monetary expenditures,
here we could deal in barter with mongols if they are unable to pay in monies, by barter i mean they have very active mining industry there, Copper being one product and other is Molybdenum and so, then by "training" their pilots we could also gain important familiarisation to North-North Eastern geography of choyna and so.
Benefit for us would of course to get our product exported, that we are desperately trying to achieve, among other benefits to the IAF.
Sadly lack of geographical connectivity and landlocked-ness of Mongolia is one hell of reason that could be problematic in happening of such deals.
I believe we should also invite Rossiyans as a intermediatery (i.e. delivery partner) for such deals, making them understand that Mongolia could only serve as a buffer between their land and choyna if she is stronger enough to defend herself, and of course perhaps they also could gain something in return here ?
If not deal of Tejas then try to sell them (weaponised) "Trainers" maybe ? *cough Hawk-i, IJT etc* or if not that at least our retiring jets (those Mig-21s,27s that we retired//in process of retiring, Jaguars in future etc) should be provided to the Mongols
And of course we could also try to sell them air defense systems, if possible.