Hi, Sridhar Sivaprakasam!
I'm glad to tell you that we've just implemented your idea!
With today's version of Service Studio (O11 SS Release 27), it is now possible to find public elements across all Modules in an Environment and add them as dependencies.

Just be aware that to use this feature your environment must be upgraded to O11 PS April version or higher. :-)
Hope you enjoy this one, and keep the ideas coming!
Have a nice week, Ângela