How can I correct my prononcitaion of the words and reduce my accent? I am not able to pronounce the english words properly and therefore runinto people not undersatnding me.
Different strategies will be better suited to different people, but I will tell you what helped me the most in improving my English pronunciation: learning general phonetics. By general, I mean studying phonetics independent from a language. Do not start with anything focusing on English phonetics nor Hindi phonetics (or whichever is your native language).
Start by learning the basic concepts of phonetics; once you've got a good base, move on to learn the specifics of English phonetics and that of your native language. Note that it is important for you to study the phonetics of your own language as well, in order to avoid some imperceptible features that are not present in English. For example, I found out that in my language vowels are murmured after the stressed syllable. I had never noticed it despite having used my language nearly every day ever since I was a child, but by having learned this I am able to avoid doing the same thing when speaking English.
This has, in fact, helped me much more than immersion (living in an English-speaking country). At first, my fluency suffered because I had to pay a lot more attention to the details when pronouncing anything, but in the long run my accent has become much more similar to native dialects.