IS IT POSSIBLE TO ENHANCE EPCG LICENSE VALUE ??

Yes. Under EPCG License scheme, unfortunately if actual value of the shipment get increased and because of that if you are unable to clear the shipment from the customs under below clause 5.16 of HBP FTP 2015-2020 extension of the value 10% on the existing License Value is possible

5.16 Automatic Reduction/ Enhancement upto 10% Duty saved amount and pro rata Reduction/ Enhancement in export obligation
If authorization issued has been utilized for import of goods: –

(a) in excess of duty saved amount indicated on the authorization by not more than 10%, the authorization shall be deemed to have been enhanced by that proportion. Customs shall automatically allow clearance of such goods without endorsement by RA concerned. The authorization holder shall furnish additional fee to cover excess imports effected, in terms of duty saved amount, to RA concerned, within one month of excess imports taking place. Export obligation shall automatically stand enhanced proportionately.

(b) in excess of duty saved amount indicated on the authorization by more than 10%, the RA concerned, as per its delegated powers, may allow enhancement in duty saved amount of the EPCG authorization. The Authorisation holder shall furnish additional BG/LUT to the Customs Authority.

(c) less than the duty saved amount indicated on the authorization, the export obligation shall stand reduced on pro-rata basis with reference to actual utilization of the authorization.