Education and especially teacher education is undergoing rapid and constant changes under the effects of globalization. The term globalization means integration of economies and societies through cross-country flows of information, ideas, technologies, services, capital, finance and people encompassing the entire globe. It is claimed that globalization marks akin to a small village through time and space. Understanding of these new technologies being an important facilitator of this interconnectivity. Globalization has resulted in significant changes in the knowledge economy and has ushered new conditions for the process of teacher education to cater the skill requirement all across the globe. Due to globalization, the total education system is now available under one roof. Globalization has impacted teacher education from all the sides. Teacher education today is no more constrained by geographical boundaries. The key elements in globalization include the knowledge society, Information and communication technologies. the market economy, trade liberalization and changes in governance structure. These elements of globalization have impacted significantly in the education sector in general and teacher education in particular. The present paper critically examines and makes an humble attempt to describe the effect of globalization in teacher education. The author in the present paper also highlights upon the meeting problem and issues being faced in the present teacher education system of India, in the context of globalization.