SharePoint 2007 only supports one localization language  per site. When you
load an alternate language pack onto a sharepoint  server you will get an
additional dropdown on the site  creation page that lets you choose what
language the site will support. To support both English and Hindi you would
need to have two sites.

If you are using the publishing features available in MOSS you can automate
navigation and maintenance of a parallel multiple  language infrastructure
using Variations. This won't automatically translate content, but it will
prompt you to create  published content in parallel sites  for each language.
It also takes users to the site that matches their browser setting
automatically. You can read more about variations here:

office.microsoft.com/.../HA101212991033.aspx