LCA Tejas is not being inducted as a replacement for MIG-21 fighter aircraft but as a part of modernisation of the Indian Air Force.
Amount spent so far on the manufacture of 24 LCA Tejas delivered till 30.09.2021 is Rs 6,653 crore. Considering the contract with Hindustan Aeronautics Limited by Indian Air Force [that means one Tejas cost roughly around 277 crores], a total of 123 Tejas fighter aircraft are to be manufactured. Further production depends upon the requirement for Indian Defence Services/export to customers.
This information was given by Raksha Rajya Mantri Shri Ajay Bhatt in a written reply to Shri Brijlal in Rajya Sabha today.