Hello mrudula,
As Pavan suggested, instead of setting time out parameter in PI, you can do some performance tuning of the corresponding code.
Few possible reasons for code taking a relatively long time to execute are:
1. Indexes might not have been created for certain transparent tables.
2. SELECT Query might involve * suffixing it, instead of that you can use corresponding field names.
3. If any where inner join is being used, instead you can use FOR ALL ENTRIES in the ABAP code.
4. Avoid using nested loops.
Above are a few suggested check steps in ABAP code. Elsewise you can take help from an ABAPer to analyze the performance of the code.
One more suggestion will be to check the daily EWA (Early Watch Alert) Report from BASIS for this code and tune it with help from ABAPer.
Kind Regards,
Souvik