Is it possible to get the name of contacts according to publication language from Audience Manager. Like if user entered his/her name in English and if a dutch language publication is going to send newsletter then contacts name should be converted into dutch language. Please guide me.
There isn't anything out-of-the-box for that, but you can certainly implement it however you choose. Typically you would have a localized template for the Mailing which will write everything in the language for the Publication -- including the order of fields and potentially the 'localized' version of Contact data if so required.
In general, though, it seems likely that Contacts will enter the data that they want you to use (read: I wouldn't try to 'translate' their names)