Published Paper Details:

This study has been undertaken to examine the objectives, challenges and benefits of industry- academia interface. The dynamic forces operating within the industry-research institution interface are analysed in this paper. The goal of this research paper is to outline what is the importance of industry- academia interface, popular ways of tying up industry- academia interface through the efforts of Educational Institutions and through the efforts of companies and finally the view of Corporate Managers that the Indian academia is not up to the standards of Industry level and the view of Management Teachers differs with the view of Corporate Managers. Globalisation of business scenario has created knowledge economy. In order to face current and future global challenges in business and industry, a country needs strong knowledge foundation. And therefore, education of youth is of paramount importance today. Industries don't just need educated manpower but they need smart, practical, skilled workforce that can survive and compete in the complicated global market. This paper has covered the importance, objectives of academia and industry collaboration, challenges facing India in Academia and industry collaboration compared to other developed countries of the world. It attempts to highlight the best practices that India needs to implement in order to achieve its growth and also underlines current practices that are already being implemented.