Hi Venkata,
Pig are preinstalled in the cloudera vm. If you edited the .bashrc file. Then it might not work because of the directory location you updated.
Please reset the settings and open cloudera manager and check whether services are running. If not then start the services especially oozie. Then use the pig command again. It should work.

Hope that helps.
Thanks

Looks like your JAVA_HOME is not defined correctly. It should be:

JAVA_HOME=/usr/lib/jvm/java-1.7.0-openjdk-i386

hi Venkata,

Why do you want to install Pig in cloudera when there is Pig availability in the system