With higher education, skill training and support, individuals can regain their dignity and work towards self-employment for becoming active members of the national economy. Students, as an essential part of the future work force, have to deal with an increasingly complex and uncertain world due to profound economic, social and technical structural change. It is important to encourage students to think and act entrepreneurially as well as ethically and socially responsible citizens. Indian youth should acquire the entrepreneurial skills to contribute towards making India a modern country by creating jobs.  Our youth must be in a position to face their counterparts in any corner of the world by virtue of their dedication and hard work to win the hearts of people around the world through the entrepreneurial skill. Here, in this paper, an attempt is made to find the historical and present situation of the inter relatedness in Indian Education and unemployment for the economic and social wellbeing from the Indian perspective to reveal everything you need to know about present higher education system and its capacity in providing employment opportunity.

KEYWORDS: Education, Skill, Employment, Economy.