Hello Priiyank,
Most likely, this problem is caused by the security policies of your operating system and the MSI installer. If you are not logged in as an administrator, you can see this particular error. This issue is known issue by Microsoft, and you can find workarounds provided by them at these sites:
http://support.microsoft.com/default.aspx?scid=kb;EN-US;Q258847
http://support.microsoft.com/default.aspx?scid=kb;EN-US;Q298385
http://support.microsoft.com/default.aspx?scid=kb;EN-US;Q224097
I hope this helps!
Liz Fausak
National Instruments