Manish,
If your operation is being run from within a keyword test you can add a column to your test that allows you to use a different timeout value.
Open your keyword test and right click on the headers for the columns (Item, Operation, Value, etc.). Pick Field Chooser from the menu that appears. This will open a new small dialog that has Auto-wait timeout in the list (which likely only contains this one item). Drag and drop Auto-wait timeout onto the column headings and drop it in whatever location you like.
Now you will see a new column which contains [Default] for every operation. Single click one of those [Default] values twice (don't double click, single click slowly - twice to make it editable) and then type in the ms value you'd like to wait.
