Instead of going for Cruisers, Navy should build more destroyers. Chinese Navy will use there cruisers as escorts for their carriers. Kolkata and Vishakapatnam destroyers are just replacement of old destroyers.
And we will use these for blockades , countering chinese warships , a good export product to middle east , middle east will be interested in navy , in 5 years or so .
Will be useful to put all those tech we have developed , there won't be much space restrictions , once optimization and miniaturized these can go back in earlier model , like vizag and Kolkata .
We need to change our propulsion tech with new design , changing vizag for electrical propulsion can be a tein project , when scenario changes , we are more strong economy could mass manufacture vizag advanced class just like type 52d
On sidenote , it isn't a cruiser just a heavy destroyer