Hi Rakesh,
Because the body of the email is generated with HTML, the < or > will interrupt the predefined HTML there.
This is the screenshot of the email body in my environment:
Since there is no OOTB settings can solve this issue currently, as a workaround, I would suggest you apply some custom JavaScript in the NewForm/EditForm, when users
input < or > characters there, the custom JavaScript will convert them as < or >.
By doing this, the actual value saved in the list will be < or >, instead of < or >. Then when it is used in workflow email body, it will
display properly as the screenshot provided above.
For displaying < or > in list view page or NewForm/EditForm, a suggestion is that, you can use Client Side Rendering(JSLink) to render the style in the corresponding
page.
More information and samples about Client Side Rendering(JSLink):
https://code.msdn.microsoft.com/office/Client-side-rendering-JS-2ed3538a
http://www.codeproject.com/Articles/620110/SharePoint-Client-Side-Rendering-List-Views
http://www.codeproject.com/Articles/610259/SharePoint-Client-Side-Rendering-List-Forms
Thanks