Abstrac

The paper is a general overview of Globalization as phenomenon and its eventual impact in changing the scenario of the global social science. India cannot rule out its profound impact on all the economic and social facades. The overview generates general outline in connecting the requirement of private higher education with its importance in the competitive market underpinned on the knowledge based economy. The globalization has been achieved on the cost of advanced and knowledge based production in commodity and services and its outreach to the world as consumer and marketplace. The globe has been accepted as a common market where highly skilled human capital is inevitable need. In producing the highly skilled human capital, India needs a clean sweep in its traditional and regressive strategies and policies to be a part of social universe . The new economic downturn has brought the globe more close to the third world in general and to India in particular. India is significantly proving a good destination for the world in scaling their economy a little up or sustained. !s far as the higher education is concerned, the introduction of the bills like The "oreign #ducation Institution $ %egulation of #ntry and &peration' (ill, )*+*, the government has shown its intention and inclination towards the growing demands of academic skills in the international domain and the interest of the academic global entities in the Indian e,pertise and market The most dismal position is of education sector that received only -./ 010 million and that accounts only *.0* percent of the total "/I inflow in India till )*++ since +22+. The concept of privatization in the -nited .tates of !merican and -nited 3ingdom set precedents for other international communities to pave the ways for private hands. !lmost 4* percent universities and institutes in the -. and -3 were privately owned and had been functioning successfully. Till )**2 the world annual enrollment in higher education stands for 0* percent. The phenomenal surge in private enrollment has been reported across the globe. .ome of the !sia 5acific countries have above 6* percent private enrollment and developing countries have been witnessing the same surge in private enrollment and institutes. The concept of privatization of education sprang from the developed countries like the -.! and the -3. In the inde, of world s +** best

universities, the 4* private universities of !merica share the top chart of best universities. The period of 2* s avers that how government of India started showing interest in privatizing institutes and tertiary education colleges. The introduction of the bills like 5rivate -niversities $ #stablishment and %egulation ' (ill +227 $ the bill remained under legislative procedures due to heavy opposition from the opposition parties' and -G8 $ #stablishment and 9aintenance of .tandards in -niversities' %egulation,)**0 heralded a hope to cater a consistently burgeoning young population of India. The 8onstitution of India under its /irective 5rinciples of .tate 5olicy binds the central and state government to unleash steps to promote education from 5rimary to tertiary level. .ince +26: education has been a mode of partnership for central and state governments to promote it with meaningful purpose. ;arious <ational 5olicies $+2:0 and +21:' envisage this sector of public good as organized, maintained, coordinated and well implemented.