If it is base64 encoded do the following
If it is just a filepath (e.g. url either retrieve the file and store it locally or use the Image viewer widget from the appstore to show it https://appstore.home.mendix.com/link/app/65122/Mendix/Image-viewer
Sneha,
I would create an entity that inherits from system.image and then use the community commons java action Base64DecodeToFile to store the image.
This question should be helpful
https://forum.mendix.com/link/questions/1949