Background: Privatization of medical education can widen its scope and availability via creation of large no of medical professionals in allopathic system for Indian people, but can it be an alternative to create human resources with appropriate skill mix, especially when services in health system involves lives of the human being needs rethinking on an urgent basis. Objectives: To review the issues related with privatization of medical education system of India. Materials and Methods: A systematic review on key search word: “Privatization of medical Education in India” was done from main indexed journals of key medical search engines i.e. Pubmed, Cochrane, Bio-med Central, and Google Scholar etc. in all forms including e-journals till 15th August 2013 since last 20 years. Conclusions: Indian allopathic medical education system is one of the largest in the world. Medical Colleges in India have rapidly progressed in last 25 years, especially in private set ups; there is no doubt that they can help Indian health care system, but the need of hour is, to critically look at the quality of students opting M.B.B.S course, quality of medical faculties in terms of their skill mix for clinical as well as para-clinical services, and quality of medical education imparted by these institutions, which can be achieved by strict implementation of strict Medical Council of India (MCI) norms, in order to ultimately improve the health care system of India in long run.