Higher education in India has grown large since the country's independence in 1947. Starting from a small base, the pace of growth was initially rapid. Initially, the pace of growth was rapid. Enrollments grew by 13 to 14 percent per annum during the 1950s and 1960s. Over the past few decades, the growth rate has declined noticeably. Since then it has remained stable between 4 and 5 percent. The nature of growth over the past two decades is, however, strikingly different from the growth in the previous period. This article maps the growth pattern of higher education in India with particular focus on enrollment growth and change in funding patterns. On analysis of the trends, it identifies the concerns and builds a case for change in Indian higher education so that the country's virtuous cycle of economic growth fueled mainly by its large pool of qualified manpower is sustained.