@Kuldeepm952 already answered one part, let me give you another part.
The easiest way to extend the range is to increase the calibre. Pinaka is a 122 mm calibre system. So if we make it a 200 mm or 300 mm calibre system, the range could be increased overnight.
But with increased caliber, you are increasing the weight of the overall system. Now IA don't want a heavier system just for sake of range extension. So instead of going the easy way, we are going the hard way here. We are not increasing the Pinaka calibre, but working on the fuel composition. So it would take time.
Aside that, work is on on 300mm system, which would automatically increase the range.