Human capital development is a crucial need to meet the global challenges of Indian economy by addressing the issues of education, research and employment. India has witnessed significant developments in imparting quality education and creating opportunities for specialized jobs through skill based education. There are impediments in improvement ofs educational quality and infrastructure in educational institutes to promote quality education, research and development. The Government of India through its scientific departments are supporting various schemes and projects at the scientific institutions for promoting science based specialized projects addressed to inculcate younger minds. The efforts are being made to fulfil the dream of modern India by addressing the issues of higher education, research and excellence which are highlighted in the paper.