To be consistent with WTO promulgations at Cancun 2003 meet, India as one of the founding members has made open to foreign and private universities to enter into India to do trade in higher education services from January, 2005 onwards. To withstand this imminent competition, the author in this survey based research article tries to suggest traditional Indian universities to transform themselves into business like organizations and adopt cross-cultural knowledge management concept as one of the techniques to increase their competitive advantage.