Madhu,
There are ways to verify this profile callout without using CMM or a dial indicator type equipment.
You could for example use a chuck and grab the part as close to the cone as possible. Then place a surface plate at certain distance from the cone (on your picture this would be a horizonal line placed above or below the cone) and using simple caliper measure distances between surface plate and the cone along cone's slope. Next you would have rotate the part by certain angle and take measurements again and again, until full 360 degrees rotation of the part is done. Since profile of surface tolerance zone is mathematically defined by basic diameter and basic angle (plus probably there has to be a length of the cone given somewhere), you should be able to calculate ranges within which measured distances between surface plate and surface of the cone should fall.
This isn't of course the most accurate method, but may work as a decent work-around if everything is done properly and carefully.
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As for other comments given so far, unless I misunderstood something, allow me to respectfully disagree with some.
First, I do not see a reason why the cone should not be used as primary datum feature. If this is trully functional primary datum feature, I would say that using other feature as datum feature and controlling the cone relative to it is "cardinal sin" from GD&T standpoint. This may significantly change geometrical requirements for the part. Look at fig. 4-44 in Y14.5-2009 - conical feature is used as primary datum feature without any problems there. The newest version of ISO 5459 allows it too and offers description in appendix C.
Second, for the same reasons as mentioned above, I think that hints like: "If you cannot measure datum feature, you cannot fixture to it, so pick some standard surface for this" leads to nothing but verification of totally unfunctional geometrical requirements. In my opinion, instead of changing datum features just like that, all the effort should be made to find out how to verify existing requirements. If I were designer of the part, I would not be happy if suddenly someone changed or reqested to change my functional requirements just because he did not have equipment to verify them.
Third, I would like to see a no-go gage used for verification of LMB defined by profile callout.