There is no possibility for India to equip the Armenians with Su-30MKI, people seem to not know that India does not manufacture the AL-31 engines in India, The Russians make the engine and they ship it to India after which the plane is assembled in knockdown kits, for spare engines they also have to get those from Russia.
The only way to get Armenia Su-30MKIs would be to send them their own current planes they are flying and deplete their own number of fighters, and for what exactly? what happens if those places need an engine replacement? will the indians cannabalize their own planes to give engines? will they give their spares?
India currently is going through a squadron shortage and attrition with older aircraft becoming an issue and them not being able to retire older planes b/c they can't induct planes fast enough. If anything India doesn't just want to maintain current squadron numbers, it wants to increase them b/c of China.
So put simply this is not realistic.
The news story that floated about the Su-30s was Armenia's own Su-30s being upgraded by India with Indian systems and munitions. Not more fighters bought from India. If Armenia will buy, they will be buying French, or the Gripen by the process of elimination. As Azerbaijan just bought Pak/Sino Jf-17s, Russian relations are complicated. Brits are friendly with Azerbaijan so likely won't agree to Eurofighter sale. Maybe the US could sell F-16s, but very unlikely as its not really in US interests to sacrifice Azerbaijan and their access to central Asia over something like Armenia, which is risky and holds little tangible benefits of geography, as its dependent on Georgia(where a pro russian party recently won election and where US Georgia relations are strained) for access.