Hello @Somasundaram_Vadivelu ,
I have found the cause of your issue. You need to complete the S32 Config Tools setup and generate the code.
1) Double-click on the IPCF_Example_S32G274.mex file in the Project Explorer:

2) Switch to the 'Peripherals Tool' perspective:

3) Right-click on the error listed in the 'Problems' view and select 'Add SDK Component...':

4) Click Yes

5) Click 'Update Code'

6) Click OK

7) Switch back to 'C/C++' perspective and then Build.

The errors should be gone and the ELF file should be created.
Best Regards,
Mike