Commerce education is becoming popular due to the liberalization, privatization and globalization policy accepted in India and its usefulness in daily lives of the people. The growth and development of industrial and service sectors depend upon the quality of commerce education. In other words, there has been a direct relationship between commerce education and entrepreneurship development. The expectations of the consumers have changed due to their increased purchasing power. The industries have to match their supply to the ever-changing demand patterns of consumers. This is possible only when the industries gets high quality human resources. Therefore, it is the responsibility of the commerce education system to produce and deliver high quality outputs to meet the requirements of the industries. The industry-university interface is a well-recognized concept in the changed global environment. It acts as pills for all the evils of commerce education and industries. The involvement of the executives of the industries in important decisions of the commerce education and the involvement of the academicians of commerce education in important decisions of the industries, can help to match the changing demand patterns of consumers of both industries and commerce education. The present study, based on the secondary data collected from websites, books, journals and newspapers, covers the need for interface, the modes of interface and the strengths and weaknesses of industry-commerce education interface.

University is an important institution engaged in exploring, generating, conserving and disseminating knowledge. A university consists of a community of teachers, students and administrative staff who join for learning and expanding knowledge. It has predetermined objectives, methods, well-defined curricula and imparts knowledge, skills, values and ethics. Further, a university produces skilled manpower in the form of teachers, technicians, scientists, managers, doctors, entrepreneurs, etc. A university system consists of different types of education systems. Commerce education has its own importance in the society due to its application to our day-to-day life. Commerce education has been a very popular subject not only in India, but also throughout the world due to its significant nature. This subject is very useful to the people in their daily lives because people are involved directly or indirectly in one or the other commercial activity. Therefore, commerce is part and parcel of our everybody life. In this context, the commerce graduates have an ample opportunity for their career development due to its practical importance, and also due to the Indian economy opening its doors to the world market. Thus, the survival of commerce graduates is believed to be comparatively easier than the other graduates.

Industry is an organization that invests in fixed and current assets to manufacture and market goods, services and ideas. Industry refers to the extraction and conversion of raw materials to manufacture goods and services. It also refers to a group of productive enterprises or organization that produces or supplies goods and services, or sources of income. Industries may be classified into manufacturing and service industries, based on their nature. Those industries which are involved in production and marketing of goods, are called as manufacturing industries. Whereas, the industries involved in production and marketing of services, are called as service industries. These industries may be further classified into large-scale, medium-scale and small-scale based on the amount of capital invested. However, the term industry in this context refers to the user groups or employees of universities.

Commerce Education,Lliberalization, Privatization and Globalization, LPG, Dynamic Environment, Commerce Education, Modern Technology, Global Economy, Management Education, Human Resource Development, Quality Products, Quality Management Education.