Finally I got the solution to fix the issue.
The proxy settings is disabled in the Production server.
Set useDefaultWebProxy="false" if proxy is disabled. Set useDefaultWebProxy="true" if proxy is enabled.
I made the following change in the binding.
<binding name="IBulkSMS" closeTimeout="00:10:00" openTimeout="00:10:00"
receiveTimeout="00:10:00" sendTimeout="00:10:00" allowCookies="false"
bypassProxyOnLocal="false" hostNameComparisonMode="StrongWildcard"
maxBufferSize="4194304" maxBufferPoolSize="524288" maxReceivedMessageSize="4194304"
messageEncoding="Text" textEncoding="utf-8" transferMode="Buffered"
useDefaultWebProxy="false">
It works fine.