Abstract: Universities/B-Schools and industry, which for long have been operating in separate domains, are rapidly inching closer to each other to create synergies. The constantly changing management paradigms, in response to growing complexity of the business environment today have necessitated establishment of Industry orientation in Business education. Educational institutions not only contribute skilled human resources to business, but also in various intangible ways. The intersecting needs and mutually interdependent relationship requires identifying means of further strengthening academia-industry partnerships. For the above reasons, Industry rather than just being the customers of business school output today have become stakeholders and partners in progress. Industry on the other hand has also discovered the advantages of collaborative learning opportunities. Corporations seek to play increasingly important role in activities of academic institutions to incubate the talent .Business school faculty is slowly integrating the industry’s views into their curriculum. Significant revisions in curriculum and contents are undertaken in business schools, with an objective of including industry recommendations. Many Business schools in India have been inviting executives from Industry to be the Academic advisors and requesting the practitioners to contribute their suggestions in framing the syllabus / updating the curriculum in order to include the topics of present day relevance in Business education. This is done with a view of imparting the knowledge and skills set, needed by graduating students in constantly changing global business environment. Corporations are placing growing emphasis on finding the “Right person”. This has forced the business schools to think more carefully on whom they hire, and therefore the role of industry in the entire business school model & industry orientation to Business education has become important.

Key Words : Business Education, Industry, Economy, Business Cycle

| DOI: 10.17148/IARJSET.2021.8925