Hi Rohit,
I checked and found that PCo Mgmt service was not started. SO I started it and now I am able to get the XML when I open PCO Mgmt URL in the browser of PCo Server 
But,
When my agent is running, I don't get Browse button enabled in "Subscription Items" tab.
When I stop the agent instance, I can see Browse button enabled in "Subscription Items" tab. But when I click on browse, it gives me following error:
Not sure what's wrong? 
Soham