Hi Aravind,
I guess you are using the latest MCUXpresso version 11. If you just copy/pasted the project from disk it might not work, you should use the Quick Start view and "Import SDK example":

Did you do it the same way? If not, could you please try it this way? I tried 2 master/slave examples and it worked.
If it still does not work for you, could you please compress the project and attach it here?
Thank you,
Libor