The Super Su-30 MKI upgrades - will this make the Su-30 MKI equivalent to the Su-35 BM? i.e. in terms of Engine power, Radar ability and RCS reduction? Those are the major points in which the Su-35BM is superior to the MKI rpesently. There is also IRST capabilities, Networking and Sensor fusion that should be upgraded.
The Su-35BM will probably remain ahead in terms of aerodynamic performance thanks to its 117S engines which offer more thrust, and its structure, which reportedly is not as beefed up as that of the MKI, which has an ultimate load of 38.8T. But in terms of avionics, sensor fusion and the like, the MKI will be on par and uniquely customized.
I am pressed for time, so will touch only on a few points.
The MKI Phase 2 upgrade for instance, as proposed by NIIP is around an AESA. A similar proposal has not been mooted for the Su-35 of which only some 2 regiments 48-64 are being procured by the Russian AF. The Irbis, on the Su-35 has lower antenna gain but much higher average power, for getting a lighter antenna which can offer rather remarkable look angles, a different approach to but similar in end objectives as the Typhoons swashplate repositioner. The Bars radar on the Su-30 MKI is proposed by NIIP to receive further enhancements to achieve its developmental potential and then transition to an AESA. Given the investment India has made in making the Bars locally, they point out this is logical. The Bars BTW, has superb performance. In Red Flag, it held up fine in training mode despite electronic jamming. In exercises with the French, they assessed it, without doubts, as a very powerful radar contributing to the Su-30 MKIs powerful performance in BVR. Sukhoi noted that current weaponry itself was not sufficient to exploit the capabilities of the Bars, so you can get an indication of an enhanced Bars. It will be an Irbis level radar and very capable. However, an AESA (as in Phase 2, if IAF agrees, and does not insist on Phase 1 itself) will be even better, offering more software driven capabilities and most importantly, incredible reliability of many hundreds of hours MTBF (between failures). AVM Barbora before retirement, noted 50 of the oldest MKIs will be upgraded to one level, and then the rest, as technology would have advanced. This indicates the IAF is adopting NIIP's proposal.
Coming to IRST, existing one is already very advanced, with a robust BVR range, so there is no pressing need to change it. However, if the Russians offer one with significantly more capability, they might change it. The one on the MiG-35, and for our 29 K and our MiG-29 upgrade is a new one from NIPP, an organization which previously used to work on their space program, and which MiG asked to design an all new OLS, over their previous suppliers. This new IRST uses an Imaging IR array, and is more sensitive than the traditional ones. If a similar one is proposed, scaled up for the Su-30, then the IAF may go for it.
For its part, DRDO is contributing an all new Mission computing suite (which combines all the systems that they had previously provided as separate LRUs) and a new RWR, designed specially for the Su-30 MKI upgrade.
More EW capabilities are also possible. Take a look at the recent MiG-29 upgrade, it incorporates a DARE ESM system with an AESA jammer from a partner, to be produced at BEL, and the MiG-27/LCA are to both include a separate, less powerful, but more compact & quite capable EW system from DRDO which combines multiple receivers and transmitters. For the Su-30 MKI upgrade, and even for the existing fleet, the DRDO may well develop a podded variant if the IAF feels they want more than the ELTA EL/L-8222 SPJ, which though capable (it is used by F-15s of the Israeli AF) is not as powerful as the LCA integrated EW suite, and the one on the MiG-29 which offers even higher power and coverage.
The Su-30 MKI upgrade will also enable new weapons.
Bottomline, the Su-35BM may have some advantages in a more powerful airframe (and thats not certain, because a second MLU may see new engines and wet plumbing for the MKI), but in terms of avionics and systems, you can be reasonably certain, this aircraft will have few peers, bar the latest F-15SEs and the Saudi F-15s. And unlike them, we will be contributing our own systems, and collaboratively improving, not just taking what is available w/o access to own customization.
Hope his answers your question.