Education is one of the significant factors instrumental to the development of a country. It should be transformed to the needs of the time and changing scenario of the world. We are living in a world of commercialization-everything has a price tag and conspicuous consumption appears to be the way of the western world. The media and politicians remind us that our educational system must prepare our students to be competitive in a global economy. To meet the futuristic prospects of Indian higher education, teachers should provide with the best trained manpower for a nation such as technologists, scientists, doctors, engineers, policy makers, businessmen etc. It is therefore teachers too should be empowered as a part of reforms for Indian higher education meeting the growing demands of liberalization and globalization going on in the world. Hence, the emerging Indian society needs to make the system of their higher education must innovative and futuristic to face the changing demands of the modern Indian Society.