A Institution of Higher education and research plays an important role in facilitating individual’s development, upholding and preserving the value system and providing relevant manpower and quality research outputs for national development. As the Country is gradually getting integrated into the Global economy, the need of the hour for the education system is to reorient itself suitably to bring in more relevance in teaching and research, provide quality R& D support to the Industry, work towards self-resilience and take up value orientation of education. Presently there appears to be a structural imbalance between the requirements of the Industry, business sectors and the curricula pursued by the Universities and Institutes of Higher Learning. This gap is to bridged through bringing in more relevance in the course contents as well as research programmes. There should be symbiotic relationship between University and Industry for mutual benefit. The Indian Industries need quality R&D support to acquire superior technologies and face global competition. The need of the hour is a breakthrough in innovations that would enable insulating the economies from the impact of this global economic slump and also enhance the growth rate, which will be a key solution to overcome the economic quicksand. India has the potential to respond to the present critical times with a rich talent pool, expertise in financial management, business innovations and the sharing of the technologies of other countries on a common platform will further reinforce our endeavors in combating the effects of recession. Keeping in view the above requirements, JNIAS would perform its part in finding flexible yet effective solutions for reorientation of higher education and research to absorb the effects of changing times and provide quality R&D support for the sustainable growth and development of the Industry and the economy in general.