Hi Tarun,
I think there is a correlation between the two.
An SDCCH drop can result in a paging failure if the SDCCH is being used for paging.
However, the situation you’ve depicted may also be indicating a problem which affects both paging and SDCCH drop.
For example, if there is a problem with your signalling routes, it will cause SDCCH drops and will also impact paging.