India’s HAL Tejas Mk2 is emerging as a strong contender in the global light combat aircraft market, challenging Sweden’s Gripen E with its competitive pricing, higher payload capacity, and lower operational costs. With a projected unit cost of $70–75 million, the Tejas Mk2 is significantly cheaper than the Gripen E, which is priced between $80–100 million. The Indian jet also boasts a maximum takeoff weight of 17.5 tons and can carry up to 6.5 tons of weapons across 13 hardpoints, offering greater flexibility for export buyers. Powered by the GE F414 engine and equipped with advanced indigenous avionics like the Uttam AESA radar, the Tejas Mk2 is designed to appeal to nations seeking affordable, high-performance fighters. The prototype rollout is scheduled for late 2025, with the first flight expected in early 2026, and initial operational induction anticipated by 2029. Positioned as a “China-alternative” and backed by India’s Atmanirbhar Bharat initiative, the Tejas Mk2 could attract buyers from Asia, Africa, and Latin America, especially those interested in local manufacturing and technology transfer. However, India must overcome development delays and build a robust export support ecosystem to compete with the Gripen E’s proven track record and global logistics network.