Purpose - The purpose of this paper is to examine the initiatives being taken in India in recent years to revitalize the national education and skill development systems from the perspectives of a knowledge economy. These initiatives include strengthening of the higher and technical education system of the country and bringing about a paradigm shift in the national skill development system through the plans of action contained in the on-going Eleventh Five Year Plan (2007-2012). The new policy frameworks for education and skill development developed by respective Government Ministries are also to be examined from the point of view of their efficacy in moving India up the ladder of knowledge economy. Design/methodology/approach - The critical review is based on an assessment of India's current status on well-known Knowledge Economy Indices, providing a conceptual understanding of the requirements from the country's education and skill development systems, and the emerging needs for making measurable progress on issues related to education and skill development. The approach is literature-survey based. Findings - The paper, while underscoring the emphasis given by the Government in bringing about major changes through mission-mode activities in both education and skill development systems, highlights possible gaps and mismatches in various initiatives taken up by different agencies, resulting in continuing issues and challenges in India's path towards moving up the ladder of knowledge economy. Originality/value - The paper gives a fresh look at several initiatives which have been continually taken up by the Government in the past, from the prism of a knowledge economy. © Emerald Group Publishing Limited.
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