This paper examines the transformative impact of the Fourth Industrial Revolution on higher education in India, highlighting challenges like job displacement due to automation, AI, and robotics, alongside issues such as low enrollment, declining research standards, outdated teaching methods, inadequate infrastructure, and gaps between education and employment needs. It traces India's educational history from ancient institutions like Taxila and Nalanda to modern developments, emphasizing the need for value-based education, equity, and technological integration. The discussion covers transformations including three-tiered university structures, learner-centered paradigms, intensive technology use, and governance reforms, while proposing solutions like increased private sector involvement, industry-academia partnerships, and enhanced funding to build a world-class knowledge society.