Hi Sourabh,
There is also another way to move data programmatically from model workspace to base workspace, you can also create new variable in model workspace and copy data from model workspace to MATLAB base workspace.
Refer to the document titled Model Workspace and specifically refer the section on ‘Manipulate Model Workspace Programmatically’ to have a background information.
The document Simulink.ModelWorkspace provides you some Object functions and a series of examples to achieve the same.
Kiran Felix Robert