The aim of the article is to discuss the issue of academic revolution in India. Particularly since the globalization, this revolotion is marked by transformation unprecedented in scope and diversity and education particularly higher education is profoundly influenced by the new order. However, it remains unfinished task due adequate statutory support of the government. In Indian context the national aspirations, to establish knowledge society in the context of increasing globalization, is based on the assumption that higher and technical education essentially empower people with requisite competitive skills and knowledge. The emerging trends demonstrate consumer driven approach to enhance marginal capital gains in educational investment. The higher education being a powerful tool to build knowledge based society and also a critical input underlying sustainable development has received a significant attention nowadays.

The paper identifies key global challenges threatening the world and indicates the role of higher research and education institutions in effectively facing them. The analysis suggests that the key factor in securing our save future requires constantly increasing efforts in creating new and widely communicating available knowledge in favor of wisely understood common good.