It is, and that's what the BCCI is going for, IPL in it's current 2 month format isn't going to garner the sort of overseas interest people think it should be getting... to garner international interest the IPL will either have to be turned into something like a 6 month long or year long "league" with the matches spreaded out over the period time to the point where it will rival international cricket itself, or it needs to be shortened like the CLT20 is today.
IPL did recently sign an 8 year agreement that any talk of expanding the the league will be held off.
IPL will not expand for eight years | Cricket | ESPN Cricinfo
To be fair if the interest level is as it is, then its not so bad to be fair. I mean I have heard of the Big Bash, but I don't think I can name a team that plays in it. That is I am sure Melbourne probably has a team in it or Adelaide, but I have no idea what the Melbourne team would be called, or the Adelaide team. The same for Ram Slam (I think I remember Cape Town Cobras, from CLT20 though) or CPL or B'desh PL. Or which player plays for which side. Of course if an Indian player, retired or otherwise were to play in those leagues, I would probably try and follow how they do, but thats abt all.
So even if there are some ppl overseas tuning in to see matches only to follow their national side players that good enough for me. One can't really expect neutrals to form an attachement to a league just 8 years old. Think of how long La Liga and Premier League had been around, before they spread globally, especially outside Europe. So for an IPL to have a fleeting interest from a bit of all the cricketing world is a great start, given that its just 8 yrs old.
Also players from England and Pakistan haven't even played that much to generate any real interest from those parts of the world yet.
As for making IPL a year long thing, its just not a practical idea. There is just no room in the calender. Football can be a year long thing, as gap for International fixtures are built into accomodate all leagues, and there 15 day windows when the league (most top leagues) are off, and Int'l fixtures played there in.
With IPL such 15 day windows will accomplish little. A full tour usually lasts 2 months, and longer if more than 3 tests are to be played. IPL cannot keep being broken up, to allow teams 2 months of window to play Int'l fixtures and then return to IPL. It would be impractical.
Though what is not helping the IPL is the 4 overseas players cap. Having said that one knows why it needs to be in place. I would however like it if IPL would extend the overseas cap to 5, and on the condition that atleast 1 of the 5 has to be from a non test playing nation. That I think would really help spread IPL to the non test playing nations. They would all want to see how their guy does against the best in the world. But again, if the option to extend it to 5 was possible, then they may as well make it any 5. I think 5 overseas, 5 Indian, and 1 uncapped India would be a better rule and balance.