Which government does not want to generate hi-tech employment, high pay international jobs, spur industrial growth, and make education globally competitive? Then it must install research parks, incubators, Patent & IPR to facilitate commercial exploitation of sunrise technologies. Industries world over are seen flocking round the advanced knowledge centers to obtain brand new ideas for global competitiveness. Role of higher education has emerged central to industrial and economic development. Association with industry, venture capital firms, international agencies who succeeded in this cause is essential. The paper prescribes "dream big" for universities and colleges. They should aim at technology generation, technology diffusion, which is achieving high significance in enabling a nation to win. The paper emphasizes adoption of new organizational inventions like Research Park, which when implemented will contribute to India's international competitiveness. The institutions should have now to look beyond the traditional lines of teaching and learning and adapt to corporate development, and help industry to win. They should have to restructure themselves to become fountain heads of new knowledge and new technology. They should deserve the status of "Light House" for industry. People demand world class education. How can this be done? Synergy between industry and academics in this cause is vital. Parks have enhanced the scholarship of universities. They jointly can give economic and political stability to India. Will industry-institute interaction become a national priority? The paper recommends reforms in the light of experience elsewhere in the world.