Hello Sudhanthiran,
My understanding, and experience, has been that there is not a 1:1 import function for all the various channels that a material may have. What I usually do is flatten all channels of a material/texture (diffuse, bump, reflection/specularity, etc.) by baking the texture into a single image. Replace the original material with that new image map (with the lighting characteristics, maps, etc.). Your 3D software may have a function to do the replacement automatically, or you may have to or want to do this manually.
When you do your export, that piece of 3D geometry will be tied to the new, flattened, material, and be applied to the object in XPression, using the UVW maps from your 3D app.
Hope that helps.
Shane
#XPression