The paper outlines in brief, need and importance of introducing global quality standards in accreditation, prescribed by the international agreement “Washington Accord”. This agreement is initially provisional and after scrutiny, if found fit, it is upgraded to Signatory status. It is this status which empowers students of engineering, to become internationally mobile to harness job opportunities in world market. It facilitates mutual recognition of professional qualifications and reduces barriers between nations for mobility of engineering personnel for employment, career advancement and pursuing higher education. However, there are problems in adoption and implementation. The problems are in respect of scope of the institutions which ought to include now more of research & development. Research needs to be increased with a view to enlarge student’s innovation capacity and imagination to global level. The paper attempts to identify the problems and evolve possible solutions. India, to be able to fulfil its declared dream of becoming a developed nation by 2020, needs not simple professionals, but movers & shakers, technology pioneers and industry leaders of world class standard, which can come only by becoming member of the international agreement.