It is 60 yrs old now and will retire around 2020, nearly 70 yrs old..
Soon the INS will take into service an old rebuild Soviet carrier too, with Mig29Ks they have been operating for some time.
2 New ships, Vikrant class are being build.
I guess the British involvement in this Viraat must still be major?
Its all British, except the people (?)
In the new Asian weapons race, it makes sure India has operational knowledge & experience of carrier operation that the Chinese are now starting to build.
Again much faster then anyone thought / hoped...