As we are doing some Data Analysis project outside ignition. We need to know the feasibility of installing such libraries like pandas and Numpy in ignition
Not possible.
Jython runs in java, which cannot load the "C" libraries that high-performance add-ons to CPython use. Jython is syntactically Python 2.7, so python libraries that still have a v2.7 compatible version available, that do not use any "C" libraries, can generally be loaded into Igniton.
Consider adding an API to whatever you are doing outside Ignition, and Ignition can access the API.
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There is the Apache Math Commons library available to you in Ignition and a few examples around the forum with regards to using it. If you know what sort of statistics you are trying to gather you can probably find an example either here or in pure java elsewhere, which can be written in jython and then used in Ignition.
If this is looking to use Numpy/pandas to do data manipulation more easily, you can either look at how others do that in these forums using list comprehensions or use the Simulation Aids module.