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Synopsis There is a definite need to identify the strengths, weaknesses of our higher educational system and the opportunities and challenges facing the system. With the challenges of globalization and info-tech revolution, there is a need to improve the quality of higher education in India and make it accessible to every eligible and interested student. The globalized economy provides tremendous opportunities and challenges for our institutions of higher education. At the time of independence in 1947, there were 20 universities and around 550 colleges in the country. Today, there are more than 300 universities and approximately 13,150 affiliated colleges in the country. However, the educational opportunities still remain insufficient for meeting our societal needs.