Hi phanikumar,
We need two tools for different purposes.
1. Retrieve Dynamics entities: create an OData set from an entity list record in Portal Manament App, we can expose some records from a specific entity.
https://www.inogic.com/blog/2019/03/retrieve-dynamics-365-crm-data-in-portal-by-calling-odata-using-javascript/
2. Send data from your web application to Dynamics, and give callback response: We could deploy a flow with HTTP Request Trigger action and Response action in Power Automate.
HTTP Request Trigger will generate an endpoint URL for us to process our request, then the trigger will send our data to Dynamics and give us a response.(optional)
Due to there is no validation to access the URL, so we need some security steps to protect the endpoint.(send validation data together with user data.)
https://flow.microsoft.com/en-us/blog/call-flow-restapi/
Summary:
Method 1 is static, our result is pre-defined in Dynamics, so we couldn't send any keyword to filter data.
Method 2 is flexible, we could customize response body, thus it's possible to search records in Dynamics.
e.g:
The start HTTP Request trigger will receive my requested data as keyword to search related records in Dynamics.

Set listed records as Body content of Response directly:

Search whether there are contacts whose last name equal "Mao",
we can see a XHR request will be sent, and get retrieved Dynamics data from callback data(Response Body).

expand an item:

Regards,
Clofly