Accounting education in certain developed countries has undergone a paradigm shift in tune with the changing global economic environment. The environment of accounting in the various developing economies has also changed and certain new challenges have emerged. Hence the accounting education and profession should not be neglected in this scenario. The Information technology and the Globalisation of Markets are the primary factors requiring various changes in the accounting education . It is therefore important to mention here that world regions and professions vary in terms of the stage of the development of accounting education and the nature of their economic systems. In this paper the emerging issues of accounting education in a newly emerging market economy like India have been discussed. The study is based on the secondary data collected from various government publications, professional institutes, universities and colleges in the country.