Arun,
Depending on the file you are trying to transfer, you would consider using compression to make it smaller before you send it across the network. Of course, the compression depends on the type of file you are sending across the network. If it is audio or visual, that is harder to do. If you're transferring a virtual hard drive or large text based file, compression could significantly minimize the time to transfer the file.
Please consider that compression does take time on both ends, so it depends on the speed of the connection you're dealing with. If you are over the Internet with a slow connection, it can be a significant factor in speeding up your process. If you're on a local network, it may not provide much help.
How to compress files via MSDN[
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Hogan