The recent global changes and lack of sustainable development have thrown open many challenges as well as opportunities. The material and economic development processes of last two centuries have increased social inequalities among nations and communities and led to unsustainable activities that are associated environment damages, global warming, climate changes and threats to security on food, health, shelter, water, air and society. These challenges demand a change in the way we think and act. The issues like renewable energy sources, conservation of resources (including water, adoption of technologies which are clean and have lower carbon foot-prints) are coming to the forefront. So are the issues of social behaviour and value system. The current way of evaluating success based on economic parameters and balance sheets needs to be changed to capture parameters like social inequalities, changing value system, increased corporate social responsibilities, lower green house gas emissions and improved ecological impacts. The teaching process has to stress on the changing scenario and to meet the challenges of quality of living, social justice, equality, sustainability, in addition to techno economic feasibility. Agriculture, Agro forestry, energy, food, communications and industry sectors need changes in the way things are being currently practiced. The needs include greater stakeholders' participation, responsive industry, private-public partnership and voluntary disclosure. The new generations of students need inputs on sustainable operations, resource conservation, renewable energy resources, clean technologies, new value system, climate changes, as well as environment protection and carbon foot-print and societal issues. Education looks at the new concepts of environmental, societal sustainable feasibility to ensure a sustainable development and improved standard of living. Meanwhile, the approach to investment decision making on developmental issues has to change. This includes Humanities and Social Sciences (HSS) teaching in engineering education which needs a fresh look to provide holistic inputs. Thus, HSS has to play a key role in engineering education quite differently from the way it is being managed today.