This particular configuration, we can't. The SLRs we have/had are not the Para-FAL variant (with foldable stock, with the spring assembly tucked into the receiver itself). We have the traditional SLR/FAL with the spring jutting out way into the stock:
So no folding stocks for us. Though I've seen one prototype OFB-made folding stock SLR in a video of Ishapore museum. Likely they experimented with the concept, and perhaps made a handful (like the full-auto 1C SLR) but it never saw any widespread production or use, not even as much as the 1C SLR did.
Either way, a modernized SLR would have been a great way forward - IF we had no other choice. When you're adding brand spanking new AR-10s like the 716 to the armoury, wasting any amount of money in procuring upgrade kits for some old, poorly-made SLRs is bonkers. Might as well spend that money for procuring optics, grips etc. for the 716s we're already buying.