For India to emerge as Knowledge Super Power of the world in the shortest possible time it is imperative to convert our demographic advantage into knowledge powerhouse by nurturing and transforming our working population into knowledge or knowledge enabled working population. The paper presents a conceptual framework in the context of Knowledge Management (KM) in Education in India. If the framework is adopted in schools, colleges and higher educational institutions, it yields more benefits to increase the quality of knowledge sharing. There has been indeed a paradigm shift in the field of education in India. The new breed of students need to be efficient to tackle problems from cross- functional, cross-cultural and ethical perspectives and equipped with skills to benchmark for global leadership positions, as they all are living in a highly competitive world. There has been a crying need to usher in a quality movement and to benchmark the same with world standards. This paper presents an academic framework for the adoption of KM principles in educational institutions. The paper also explores the objective of the National Knowledge Network and National Mission on Education to bring together all the stakeholders in Science, Technology, Higher Education, Research & Development and Governance. The present paper emphasizes on ICT as a dire need as it acts as a multiplier for capacity building efforts of educational institutions without compromising the quality. In the final section interpretation and implications of NKN and NME as tools of Knowledge Management are discussed and conclusive statements are made.