India to Build own AWAACS

There was a news item on a local television channel that quoted the scientific advisor to the Prime Minister of India saying that India would build its own Airborne Early Warning System.
There was an attempt by India earlier in this regard which ended tragically when the Avro crashed killing all the top scientist involved in the project.
Looks like India is looking to restart this program. There was talk to that the Airborne platform that India is looking to buy from Isreal would contain Indian software. Does anyone know how far the Indians had gone in developing their platform before the crash.
Are they capable of developing such a system. How long would it take them and how good would it be?