Management Education : India's Aspirations of Leading the Global Knowledge Economy

Management education is critical to India's aspirations for leading the global knowledge economy. The global competitiveness of Indian economy and also its employment generation potential is clearly dependent on availability of required skills and trained personnel. India has witnessed a sharp rise in number of management institutions across different States which is needed to meet the demand of management skilled human resources from corporate sector for economic growth and development. The concern is that majority of institutions have been found to struggle for filling their intake of students and for meeting complaints of industry regarding low level of employability of management students. This is a review paper which identified main flaws in management education sector i.e. Low level of student's employability, incompetent faculty employed due to lack of resources and low level of research, obsolete syllabus, lack of industry orientation and foreign collaborations with academic Institutions, Focus on creating job seekers not on job creators, FDI, Defective Government regulations, lack of serious players in education sector, etc