Abstract

Abstract Education serves as capital for a society. The educational journey of India during the last six decades after independence has been quite exciting. India is expected to become the global powerhouse of human resource by 2025. In the emerging era of knowledge-driven society, declining workforce and aging population in developed countries, India with its large young population has the opportunity to position itself as a quality source of skilled manpower for the world. The immense scientific, technological and socio-economic development has led to a paradigm shift in the basic objectives of imparting education. While factors such as increasing competition, economic slowdown, poverty, illiteracy, population imbalances and political instability are adding pressures on the policy makers as well as common citizens, the importance of education and especially ‘relevant education’ is gaining significance as a viable solution to combat these issues in our society. The system is also failed to fulfill market needs, resulting in a curriculum that is of low relevance to employment needs. Commercialization and privatization of education has proceeded, corporatization has been banned, stifling investments in formal university education. Major education reforms are long overdue. Only then can India become a pioneer educational hub, as it once was.

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