Hi Arun,
Regarding your question about creating custom keywords, one can create custom static keywords, in the admin client, under your policies.
But to speak to your wider question, around scripting that creation, it's not something that is supported, as far as I know. And if you're scripting this, I'm guessing you want these to be dynamic, and not static - I don't believe this is possible.
I know this idea has come up with some of our PTC "solutions/services" folks in the past. My understanding, is that a lot of limitations or roadblocks prevent this. Past conversations about this, seemed to focus on investigating a client-side trigger, for safety/logistics purposes, and having to rely on member check-ins, to do this. But to what success, I'm not sure?
If that is something your organization is interested in, you might want to reach out to your PTC Integrity account manager, to engage PTC services.