Do not upgrade your tyres RSM. Do so only when you have clocked 15,000 to 20,000 kms on your Punto. The tyres should wear out by then. Tyres need not be changed for new cars. The tyres will have a life in excess of 20,000 but it won't be safe. Bald tyres and tyres with insufficient depth call for a change.
If you are planning to upgrade to aftermarket alloys, you might as well upgrade the footwear. You'll get a good discount on the new ones considering the current ones have been run only 1,200+ kms.
For City driving 175/70 is more than enough and they are good on highways too... Tyre upgrade is required only if you want to push your car to the limits and would like to take headon sharp curves at high speeds etc.
Reason for this is given below... i still drive my esteem with 155/80 profile and they are good enough for city and occasional highway driving... I dont push my car to its limit and i do drive fast on long stretches and take sharp turns with these tyres and no sqeaks till now...
I believe you would have got MRF with your punto and that should hold good for atleast next 3 years.
in india it is suggested to upsize only by an inch, so that'll be 15", you can even go for 16" but the side profile will be less and hence your riding comfort will be worst, low profiles are meant for smooth and flat roads, but in india we have all stupid roads with potholes every where, on 16" if you get into a pothole, your rims temd to break, so better stick with 15" upsize, go for 185/65 r15 or 185/60 r15, these should serve your need and not to forget, if you watn performance then go for, michellin pp2 or bridgestone potenza g3 or yokohama s-drive
i think you should stick to your company fitted Bridgestone tyres. They are most recommended and the best in the market. MRF, JK and Ceat are pretty much lagging with the technology that Bridgestone and Michellin have.
I suggest you stick with the same size maybe you can upgrade to 185 section! Why am saying is i have heard people saying upsizing to 15inchers and 205 section causes problems to suspension and affects handling also badly!