If by "this" you mean the engine that can be used to power the whole tejas fleet in the future and replace F 404 engine then it is possible but there are some caveats:Do you think thus version if Kaveri will be ready in 10 years?
1) The GoI will have to continuously invest in the program and by that I mean the sanctioning the money in time.
2) Some facilities will have to be built with the JV partners like FTB, etc.
The GTRE director has said that they are trying to increase the thrust to 86 kN and make the T/W to 8:1. There might be the interview on this thread where he said that.
You can watch this interview as well