Economic development, inclusive growth and high employability are significantly linked to education policy of a country. Beginning with Kothari Commission (1966) with its emphasis on science & technology and research to National Policy on Education (1986), several committees during the last decade have advocated for greater foreign collaboration, public private partnership and improvement in quality. The RTE Act 2002 has been a significant milestone in ensuring near universal enrolment. However there are constant laments about poor infrastructure, indifferent teaching and government schools being out performed by private schools. Make-In-India campaign seeks to significantly bolster India's manufacturing sinews and exports by fostering Ease of Doing Business. Its success, however, would critically hinge on how the leitmotif of education policy is etched in the promised new policy this year. If India wants to be the Asia power of 21st century, quality education at entry level will improve its total factor productivity, ramp up India Human Development Index (HDI) and be a significant conjoint to Public Private Partnership (PPP) and National Manufacturing Policy (NMP). The paper examines these policy options and suggests the way forward.