We are living in a period of major structural changes where global scenario of knowledge-based economy has posed a serious challenge to the developing world. Higher education is expected to play a major role of being the knowledge producer as well as a medium to train skilled knowledge workers to contribute effectively in the global knowledge-based economy. It is believed that in the 21st century countries with limited highly educated and trained manpower will lag behind and consequently may experience intellectual and economic marginalization and isolation. If higher education is not given due importance, the developing countries will further fall behind.

They will remain in the state of pursuing a moving target, as the high-income countries are constantly pushing the knowledge frontiers outward and are pulling away from the rest. Thus, higher education institutions in the country, as the prime creators and conveyors of knowledge, must be at the forefront of efforts to narrow the development gap between East and West.