Hello Sourabh,
in this case I would suggest to use so called "Template parts". A template part is a portion of a form template that can be saved for reuse in multiple form templates. A typical template part consists of controls and a data source and may also include features such as data connections and rules. On a form template, the contents of a template part appear in a section control. You can differentiate a template part from a regular section because the words Section (Template Part: Name) appear as the section label, where Name is the name of the template part.
Please have a look at the following links for further information:
Designing and using template parts
http://office.microsoft.com/en-us/infopath/CH101638151033.aspx
Lab 10: Creating and Inserting InfoPath 2007 Template Parts
http://msdn2.microsoft.com/en-us/library/bb267331.aspx
How to: Share InfoPath 2007 Template Parts and ActiveX Controls
http://msdn2.microsoft.com/en-us/library/bb409614.aspx
InfoPath Team Blog - Template Parts 101
http://blogs.msdn.com/infopath/archive/2007/03/14/template-parts-101.aspx
The SharePoint Factory - InfoPath 2007: Form Template Parts
http://spsfactory.blogspot.com/2006/07/infopath-2007-form-template-parts.html
InfoPath 2007: Creating a Template Part
http://blog.funknstyle.com/?p=503
And even a video:
http://www.youtube.com/watch?v=bpIOX3Ml0J0
Regards,