The Indian higher education system is the largest in the world in terms of the number of institutions and second largest in enrollments. About 33.3 million students are currently enrolled in higher education institutions, but the Gross Enrollment Ratio (GER) is still very low at 23.6%. There are about 757 universities and 38,056 colleges in India. This mammoth network of higher education institutions include a large private sector that has emerged and experienced very rapid growth during last two decades. Despite this growth, Indian higher education is facing several challenges with regard to equity, efficiency and quality. It is still not inclusive, globally competitive, and innovative. The present paper examines the Indian higher education growth deception in this context and vindicate the imperative need for effective intervention policies.