Higher education in India is gradually diversifying and rebuilding itself to make ‘New India’ as one of the vibrant knowledge economies of the world. Indian education system is reconstructing itself as network of research, knowledge, and training intertwined with deep sense of social responsibilities, encouraging community involvement and social participation. The best higher education institutions of the world such as those in the US and the UK work as knowledge centres that facilitate social change in society. They also appear as job provider and development facilitator.