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Introduction of Economic Reform, replacement of GATT by WTO and signing of GATS have globalised education with 12 classified sectors, covering 161 services. In th changing situation education has become tradable being determined by market forces. Teaching and learning are no longer meant for building a nation but a business for profit making. The present work is th outcome of research work of many researchers, senior faculty members and educationists from all over the country. The researchers have studied the nature and working of Indian institutions to carry out their vision and mission in future in the light of the entry of global players in the education sector, the emerging trends of education, consequent challenges, their ways of mitigation and apprehension of future crisis collecting data both from primary and secondary sources. It is certain that the valuable contributions, views and suggestions of researchers will be of immense help to the future researchers, policy makers, administrators, social thinkers and educationists in solving the problems of the sector and to introduce policy measures for the educational development in general and higher education in particular of the state and the country. About the Author Dr. Sudhansu Sekhar Mishra (b. 1959) obtained his M.Com. degree in 1981 from MPC College, Baripada, Mayurbhanj under Utkal University. Vani Vihar, Bhubaneswar. He was awarded M.Phil. degree in the year 1990 and Ph.D. degree in 1997 from Nagpur University, Nagpur Maharashtra. Dr. Mishra has completed many research projects sponsored by U.G.C. Kolkata and ICSSR, New Delhi and organized both National and State Level Conferences and Seminars on Commerce sponsored by U.G.C. Kolkata. He has jointly edited the book "Regional Rural Banks and Agriculture Development" and "Corporate Social Responsibilities and Industrialization". He has been working as Lecture in Commerce since 1982 and Senior Lecture since 1994 and Reader since 2000/ since 1982 and Senior Lecture since 1994 and Reader since 2000. At present he is in U.N.S. Mahavidalaya, Khairabad Mugal, Jaipur, affiliated to Utkal University, Vani Vihar Bhubaneswar, Orissa. Dr. Rajan Kumar Sahoo (B. 1961) obtained him MA in Economics (1984) from Ravenshaw College, Cuttack and L.L.B. From M.S. Law College Cuttack in 1994. He was awarded Ph.D degree in the year 2000 from Utkal University, Vani Vihar Bhubaneswar (Orissa). Dr Sahoo has published 75 papers and 95 articles in different newspapers, magazines, journals and books. He has completed many Research Project and organized both National and State Level Conferences and Seminars on Economics on Economics Sponsored by U.G.C. Kolkata. His important works are 'Tribal Development'. He has jointly authored the book ﾖ 'Environmental Education and Pollution Control' and Jointly edited the books like 'Self-Help Groups and Women Empowerment', 'Regional Rural Banks and Agricultural Development', Resource Mobilisation for Higher Education', 'Women Education Emerging Issues and Rethinking' and 'Corporate Social Responsibilities and Industrialization'. He has been working as Lecturer in Economics since 1985, Senior Lecture from 1988 and Reader in Economics since 1985, Senior Lecturer form 1998 and Reader in Economics since 2003. At present he is in U.N.S. Mahavidyalya, Khariabad, Mugpal, Jaipur affiliated to Utkal University, Vani Vihar Bhubaneswar, Orissa. Dr Tilottama Senapati (b. 1963) obtained her MA (1985) and M Phil in Education (1988) form Ravenshaw College, cuttack. She has completed Diploma in Distance Education and P.G. Diploma in Higher Education from Indira Gandhi National Open University, New Delhi in the year 1989 and 1995 respectively. She was awarded Ph.D. degree in the year 1993 from Utkal Unversity, Vani vihar, Bhubaneswar Orissa. Dr Senapati has to her credit punished 33 papers and 23 articles in different newspapers, magazines, journals and books. Her important work is "Curriculum development in Population Education". She has jointly authored the book 'Essentials of Educational Measurement, statistics and Guidance Services in School', Sex Education and Councelling for Sex related Problems', 'Environmental Education and Pollution Control' and jointly edited the book ﾖ 'Resource Mobilisation for Higher Education.' She has been working as Lecture in Education since 1989, Senior Lecture sine 1996 and Reader since 2005. at present she is working as the Assistant Director, Directorate of TE and SCERT, Gvoernment of Orissa, Bhubaneswar.