Vol. 1, Issue 2, Part A (2015)

Abstract
This paper is based on our observation and our experience as faculty of Commerce and Management. The new millennium education is global centric where ICT and knowledge are ruling the world. In India Commerce education is at cross road. The globalization has provided vast job opportunities across the globe & at the same time poses a challenges and threats. In this paper we made an attempt to high light the prospects, challenges faced Commerce Graduates and Post Graduates coming out of commerce education institutions in India and gave some measures to meet these challenges to make commerce education more effective. In India Commerce Education is facing with many challenges like lack of world class business and management institutions, inadequate educational infrastructure, lack learning resources, inadequate faculty, unscientific faculty- student ratio, lack of professional bent in faculty. The governments both central and state -through AICTE, IIMs, ICAI, Commerce and Management Associations, universities and industries have to take more rigorous measures to meet these challenges and equip our young people to become world class entrepreneurs by providing infrastructural facilities like good class rooms with computer network, overhead projectors, internet facilities, business labs, well equipped library, digital library etc. Proper seating arrangements, lighting, and ventilation facilities, the Industry Institutional-university linkage should be improved, Re–engineering the commerce and management pedagogy, Revise and update the syllabus regularly and improvise the curricula to make it more realistic and practical. Appoint Qualified faculty, devise suitable Faculty development programmes regularly to update the faculty, the faculty should be trained by IIM faculty and world class business schools professors and include commerce education in the domain of professional education. Good teachers must be appointed as principals and directors of commerce educational institutes.