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Commerce has emerged as one of the most potential pursuits in the wake of industrialization, economic development and techno-management revolution. It has grown from a subject to a full -fledged faculty in the most of the universities and colleges and had acquired a pride place amongst different academic disciplines. The growing phenomena of globalization, Liberalization and privatization has been influencing, commerce education. The technological revolution has further provided new dimensions. E-baking, e-financing, e-investment, paperless trading and governance have been gaining importance all over the world. At the same time the outsourcing business, call centers, small business operation, IT based Services etc. are expanding fast. Commerce is considered as one of the most popular career options in India. Commerce education is the backbone of the business and serial development of the nation. It covers wide area of business and society. Further it provides skill oriented education to student and society.

Education is essentially, a process rather than a product as it is mostly taken to be. It teaches us to learn: learn things to develop in a creative manner, teaches us to learn to be economical in effort. True education is not knowledge of facts, but of values. True education leads us to the reality of life, peace, nature and survival of human race.

The world is changing very fast. The pace of globalization, liberalization and privatization has tremendously influenced the various dimensions of Commerce education. Thus, literature on Commerce has been reviewed on the basis of papers presented in All India Commerce Conferences and also on the papers published in referred journals. Most of the scholars opined that Commerce courses were not able to meet the different types of challenges posed by Industry and Business and that the education was not practical -oriented and did not lead to develop skills and qualities of young generation to face the work situation.Therefore, there is a need for its improvement and innovations to lead the present education system rise to a sufficient standard.

Commerce education plays a very important role in the changing business world. It is the most important key, which leads to success in all sectors of economy. The education imparted among Commerce students include lecturing, learning, group discussion, brain-storming, simulation exercises, case study, role-play, seminars etc... Through all these, the