Abstract
After the introduction of economic liberalisation in the country, the Higher Educational Institutions (HEIs) are faced with severe problems of shortage of funds, shortage of motivated faculty and lack of interest among meritorious students in opting for science and research career. Under the changed environment, the institutions must reorient their activities by establishing links with industry and facilitating exchange of teachers and industry professionals between academic and research institutions and industry; develop and transfer technologies applicable to industry; and initiate schemes to encourage teachers and students to carry out innovative in-house projects. The institutions should behave as entrepreneurs and find outside sources of revenue as far as practicable rather than solely depending upon public sector support.
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