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Management and technical education has undergone a sea change around the last decade of the 20th century thanks to the advent of gobalization and liberalization. Today, the field of education has become highly competitive and dynamic. Rapid changes in both theory and practice are hastening the rate of obsolescence of skills and knowledge. Hence there is a growing need for institutions to develop strong industry interface to incorporate mutual learning through curriculum. There is also a necessity for curriculum to keep pace with changing industry needs to ensure employability of students. In this regard, it is the onus of educational institutions to understand employee psyche and requirements of job market and prepare students with adequate skills to face future challenges.