Ajay,

Cold intake channel/pipe brings down the temperature of the air thus increasing power. The intake manifold will get altered to some extent as well. You can fit a K&N with it too.

Doing such mods will surely affect the warranty adversely. Also, considering Indian conditions, I doubt if you will ever be able to enjoy the performance benefit it will offer. It is best advised to let the Verna be stock. As it is, the vgt engine is quite a stonking performer.