The economy of the 21st century is knowledge-based. Young generation having the required knowledge and skills will have the better career and life prospects.

Education is no longer a privilege of the elite. Governments the world over are conscious of the need to make education reachable to the lowest rung of the society.

Private corporations are aware that they will need more people with the latest skill sets. They are allocating funds for education, often as part of their corporate social responsibility.

With huge demand for new vistas of learning and career, education has earned the status of ‘industry’ and the student is now the customer or client.

In spite of best efforts by public and private organizations, there is a gap between demand and supply. In India’s context, the gap is in terms of uneven geographical location of colleges (66% medical colleges in just 6 states; 63% engineering colleges in just 5 states.)

India is emerging as the global hub for higher education, despite the fact that Indians are investing heavily in sending their children abroad for studying.

In the globalized world, India needs more institutes of higher learning to keep pace with the competing countries like China, Singapore, Philippines, Taiwan and South Korea.