There are several reasons why a blue water navy may not want corvette style ships.
- Range and sea keeping are two major concerns with Corvettes and Missile Boats.
The NGMV (~2500 tons) and the NGC (~1500 tons) with 1 x LM2500 and 2 x Pielstick 12PA 6 STC6 Diesel engines have a range of 2800nm at 25 kn.
The older Kora Class corvette (~1500 tons) with 2 × SEMT Pielstick/Kirloskar 18 PA6V 280 diesel engines can do 3476 nmi at 16 kn.
The Talwar Class frigate (4000 tons) with 1 x Zorya-Mashproekt M7N.1E propulsion plant, 2 × DS-71 cruise gas turbines and 2 × DT-59 boost gas turbines has a range of 4,210 nmi at 14 kn with much more powerful armament and tonnage.
This is important since these vessels need to keep up with Carrier Battle Groups and act as Destroyer Escorts during picket duties.
The more the tonnage, the better your ship handles at higher sea states.
- Smaller vessels like NGC and NGMV are not survivable in a sustained fight
Corvettes and missile boats are not meant to be used in a pitched battle which is what we are looking at against China and perhaps Pakistan.
The Littoral Combat Ship of the USN is essentially a corvette and here is an excerpt on it's survivability.
https://news.usni.org/2013/01/17/navy-responds-pentagon-lcs-survivability-claims
- Limited armament and sensors
You have a much lower Return on Investment per tonnage compared to corvettes based on the number of missiles and sensors you can employ.
This is very important since only a limited number of yards can produce what you want. I'm not completely sold on L&T Kattupalli despite their 90 hr/week work ethics due to no experience in making such ships previously.
Now taking all of the points above, if I have to choose between 12 corvettes or 4 frigates, which would be more feasible for the Indian Navy?