Gripen with Elta EL/M-2052 and israel's new lightening pod will be a great combination. Gripen also has the best weapon package among all the fighter jets in MMRCA. I think either we go for Rafale or Gripen, euro-fighter is way too expensive and since the developing nations themselves are reducing their purchase so as to a different fighter jet (F35) i don't really see its future, on the other hand both Sweden and France are not looking for a 5th gen fighter and so they have a definite plan for future upgrades.
Saab wanted the Israeli radar, or at least a radar co-development with them, but the US intervened and vetoed it! When you check earlier pics/graphics of the Gripen "IN" that was offered in MMRCA, you will see not only the litening pod, but also Python V, or derby missiles, which shows that they wanted to propose India an Israeli package, which not only makes the fighter better, but would have increased the chances by the political influence of Israel. But again, when we can have the same Israeli techs and weapons for our own LCA, why should we buy a foreign fighter that is similar?
Wrt to the future of Gripen...
...Sweden initially ordered 200 Gripens and then also learned that the cold war is over and their defence budget is too small, that's why they leased their own fighters to other countries at low costs and offeres us 2nd hand Gripens, or Saab 2000 MPAs as fast procurements too. The only real export customers of the Gripen are Thailand and S. Africa and the Gripen NG was offered in many competition and badly lost out, once because of technical issues, but also by the fact that it is not developed yet and that not even Sweden has a real interest in buying them is another one. Besides, Saab and Sweden are simply too small to fully back a Gripen offer like LM/Boeing and the US can, or the other Eurocanards are supported. Even if the Gripen is a good lower end fighter, fighter replacements are decided not only by air forces, but by strategic needs of a country, that's why even a country like Switzerland, that has no real need for fighters at all, will choose between Rafale and EF mainly, while the cheaper and operationally fully suitable Gripen will loose once more.
The future of Gripen is worse than the future of the EF, because it has less orders, less prospects, less support and was inducted earlier. Saab will soon have to close the production line and can't stretch it like the EF consortium did it now, by reducing the production, because all orders of Sweden and export customers will be finished soon.
The only European fighter with some future potential is the Rafale, especially when the deals with UAE and Swiss goes through, but even if not, the production of French forces alone will go on beyond 2020, a time when neither Gripens, EFs, F15, F16, most likely not even F18s will be available anymore. That makes Rafale to the only western non stealth fighter on the market by then and it suddenly it turns into a cost-effective alternative for countries that can't afford stealth fighters.
