How to move my itunes library from old PC to new PC

If the drive contains a complete iTunes library, including the database files, launch iTunes with the Shift key held down, click on Choose Library, and point it there. If not, drag the music files to the internal drive and then into the open iTunes application window; if desired, you can create a new library on the external drive in the Shift-key selection screen.

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Restore them to the same location on the new from which you backed them up on the old computer.

SachinMohan wrote:

... the iTunes files are on a seperate external drive. ..

did you follow ALL the steps as shown here...

http://support.apple.com/kb/HT1751

Also... Have a look at these 2 Videos...

http://macmost.com/moving-your-itunes-library.html

http://macmost.com/moving-your-itunes-media-to-an-external-drive.html

See also this on migrating your library.

tt2