Hi Sumeetsingh,
A VTS file is a transaction store. It is like a data store for the VSE recorder to read and write the transactions of a virtual service - like a raw traffic file.
When we record any transactions it is written out to the VTS file.
DevTest Portal recordings store the recorded transactions in the VTS file.
The VTS file is not needed during VSM deploy and playback.
I am not sure if we can extract the request and response pair from this VTS.
You should be able to get the request and response from the raw traffic file.
Hope it helps.
Heloisa