Reshaping the Commerce education – A need of time

Commerce education is an induction into  business coaching. It develops the requisite knowledge, skills and approaches for organizing commerce and related sectors. Commerce education must provide new paths to service the growth objectives of the nation due to its fundamental principles related to fulfilling the growing needs of the business world. There is a big demand for systematic enlargement of commerce education which indicates that commercial learning has become more essential in India. 

Commerce education had developed to support the growing needs of business and trade. However, over the years, there has been an elementary move in the very approach of commerce education; from a theoretical to professional to practical. At this point there is a need to re-characterize the commerce education in the varying circumstances and make it stronger further. Technical and industrial development have made it difficult for organizations to carry on in the competitive world, and as a result, the significance of commerce education has increased many folds. The Schools of commerce should play a key role in equipping our self-motivated managers with the rising trends of commerce expertise to face the challenges of the dynamic business world. 

Commerce is considered as one of the most sought-after career options in India. Commerce education is a strong pillar of the business and successive development of the nation whereby it focuses on developing the people and making valuable use of existing resources. 

These days, the commercial world is facing many challenges like international issues in economy, foreign direct investment, export and import of trade, modifications in Indian and global economic sectors and government policies for mergers and acquisitions. Additionally, Covid19 pandemic has put in new sets of challenges.  There is a vital call for renovating the existing business education system to deal with the dynamic world of commerce and trade assuming innovative magnitudes in the framework of growing international business. The digitization in education has changed the possibilities for students to become skilled across various domains. The core curriculum for commerce faculty has been adapted and re-structured to meet the future challenges of the economic, manufacturing and service sectors - and this can be a good start for the students.