For normal forms, you have to create a print view. It will create a Word document that can be printed from user's workstations. Here is a link how to design a view for printing:
http://office.microsoft.com/en-us/infopath-help/design-a-view-that-is-optimized-for-printing-HA010151438.aspx
Unfortunately Word print views are not supported for web-based forms. Usually the only option is to create another InfoPath view and design it for "print": all controls as labels or read only; all sections are visible, etc.
[Update]
@Surendra J: Ok. There are two things to address separately.
First of all user should be able to request "Print" operation right from SharePoint view (and I don't mean "Browser->File->Print"....) This can be implemented by using a custom ECB action. Your custom action will be associated with Forms library or even specific ContentType. It will allow SharePoint users to choose "Print Form" right from SharePoint view. These links should help:
http://www.slideshare.net/gvarosky/introduction-to-developing-custom-actions-within-sharepoint
http://www.csharpest.net/?p=95
Second issue is to make print view from XML. As you can understand InfoPath XML has to be transformed to HTML or image. Preferably it should be done by InfoPath forms library. There is no easy way to navigate to given InfoPath view without mixing rules and URL parameters. I recommend you to take a look at this article:
http://social.msdn.microsoft.com/Forums/en-US/sharepoint2010general/thread/156983db-5a62-498f-a3b5-96ad7f57d15f
Disclaimer: I personally like PDF forms product from http://PdfSharepoint.com. It does not have print issues as all forms are dynamic PDFs and works with Adobe Reader. I believe it is a good alternative to InfoPath if printing is necessary.