Windows 7/8 Installation Issue: CD/DVD device driver missing...

For the past few days, I was troubled by cd/dvd driver missing error :(
I was trying to install windows 7 (or windows 8) on my PC using a USB drive

But when I click "Install now" I get the error
"A required CD/DVD device driver is missing. If you have a driver floppy disk, CD, DVD or USB flash drive, please insert it now."

Solution:
When windows asks for driver just click "Cancel".
Now press Esc key or click the "x" button on top right (the red one). It will ask that "To install or upgrade windows, you must run windows installation. Are you sure you want to cancel windows installation."
Click'Yes'.
This will bring you back to the original screen showing Install Now.

Now physically remove your USB drive from the original USB port and put it in a different USB port. (Very Important)
Click "Install Now". This time it should not ask your for device driver missing.
Voila! Installation continues without error. Have fun.
Say 'Thanks', if I helped you. :)

Reasoning:
This problem happens to all new version of updated Windows 7 installer. I think, it is due to failure of Windows installer to continue detection to the USB drive. It loses the connection and becomes confused, It doesn't know where to find the USB drive it used while setting up.

When we re-insert the USB drive, Windows installer detects  the USB drive back, and continues like usual.

Source: http://answers.microsoft.com/en-us/windows/forum/windows_7-hardware/a-required-cddvd-device-driver-is-missing-usb/61eda679-66cc-4512-b175-d02871394461

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