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Over the past two decades the word "Globalization" has become a common word that is heard in many international conferences and large gatherings. A number of definitions of globalization related to the provision of products or services are given by various people of different sectors. The impact of globalization is also felt on educational industry. The trend of the students and their parents has changed from mere getting a seat for their ward in reputed college to get a seat in a college which gives placement assurance and many more tie ups with foreign universities and dual programme etc. They prefer the college with good academic record and placement record. Education is a complicated system with distinctive properties of objectives, structure, organization, operation modes and operational effectiveness. There has existed a bigger gap between theoretical objectives and implementation practice, which is pushing education further away from the society-desired ideals of equality, democracy and civilization. This paper covered a concept and importance of the education system and the challenges faced by the education sector etc., In a country like India where the students who emerge from colleges are often being accused of not being industry ready and far removed from practicalities, the academic industry must put its best foot forward. Industry academia relationship has over the years involved setting up research labs, sponsoring initiatives, offering projects, mentoring students, instituting scholarships and awards. This is a gateway for aspiring students.

India has successfully achieved quantity benchmarks for education by making schooling accessible to all and making rapid strides in improving attendance. Next, India must improve the quality of its educational system, which is limited by large class sizes, limited teacher expertise, poor access to resources, and teacher absenteeism. ICT provides tools to address all these challenges. Historically, ICT has been used to improve educational coverage. Educational radio programs have been produced since 1972, and corporate initiatives have introduced computers to classrooms since the 1990s. Most radically, India even launched a satellite to broadcast educational content to remote schools off the grid. Yet the digital revolution provides the greatest opportunity for ICT to contribute to improved education and equality of opportunity across India. ICT has been applied to improve education in several ways. Teachers can gain access to improved lesson plans and teaching resources that incorporate multimedia and best pedagogical practices. Similarly, these platforms are used to deliver interactive teacher training that uses data to analyze teachers' strengths and weaknesses. Data can also be used to break down and isolate challenges for students or entire classrooms. Finally, communication tools embedded in these platforms provide teachers, students and parents with a more collaborative classroom experience. The MHRD's DIKSHA platform, powered by EkStep, is currently the most comprehensive and widespread societal platform in use. Integrating ICT into all aspects of education, DIKSHA incorporates quality user-developed content, student assessment tools, data collection and analysis, teacher professional development, and parent-teacher-student communication into a multilingual package now being implemented in several states. Additional general-purpose platforms include Karnataka's Meghshala, Gujarat's Learning Delight, and the Central Board for Secondary Education's Saransh. More specialized platforms also exist to fulfill specific needs, such as StoryWeaver, an initiative to develop mother tongue literacy material. EkStep and DIKSHA provide functionality to incorporate other platforms as specialized modules within their own system, a powerful integrative feature with the potential to consolidate the many different platforms in existence under one roof without sacrificing local adaptability or flexibility. Education policymakers should continue encouraging the consolidation of redundant platforms. While teachers often use ICT resources such as Youtube in the classroom, these freelance solutions do not provide the opportunities for beneficial synergies inherent in a platform. Additionally, implementers and end-users of education platforms should be more fully trained in the capabilities of these tools, with continuing support provided to increase familiarity and comfort level. Significant infrastructure investment is required to provide electricity to many schools, let alone digital connectivity, and opportunities exist for involving India's major industries in content production. Finally, the definition of a digital school must be clarified to incentivize and prioritize investments in ICT integration.

The paper describes about the role of unorganized sectors in India and stated that If the unorganized sector gets regulated to the typical formal sector, the share of the unorganized sector in the Indian economy will eventually be reduced. From 2014, the overall allotment for the Labour and Employment Ministry has seen an increasing movement. This is in consonance with the government's sequence of events of 'Make in India', skill development, push for entrepreneurship, etc. in spite of this, some important mechanism have seen a reliable retrogression.