The ultimate aim of education in ancient India was not knowledge, as preparation for life in this world or for life beyond, but for complete realization of self. The Gurukul system fostered a bond between the Guru & the Shishya and established a teacher centric system in which the pupil was subjected to a rigid discipline and was under certain obligations towards his teacher. The world’s first university was established in Takshila in 700 BC and the University of Nalanda was built in the 4^th century BC, a great achievement and contribution of ancient India in the field of education. Science and technology in ancient and medieval India covered all the major branches of human knowledge and activities. Indian scholars like Charaka and Susruta, Aryabhata, Bhaskaracharya, Chanakya, Patanjali and Vatsayayna and numerous others made seminal contribution to world knowledge in such diverse fields as mathematics, astronomy, physics, chemistry, medical science and surgery, fine arts, mechanical and production technology, civil engineering and architecture, shipbuilding and navigation, sports and games. The Indian education system helped in preserving ancient culture and promoting cultural unity and infused a sense of responsibility and social values. The ancient Indian education system has been a source of inspiration to all educational systems of the world, particularly in Asia and Europe.“Not only is there an art in knowing a thing, but also a certain art in teaching it.”