Information Technology (IT) is enabling enormous developments in various application areas which are playing vital role in today's global economy. Use of IT in financial and industrial sectors in the past decade has to be assessed and reflected for the further development of the landscape of advanced distance education. The education process for the production of the "modern age Engineer" requires involvement of research in advanced telecommunications,networking and computing. Thus, innovative Knowledge Management tools, efficient Network and Systems Simulation platforms, and analytical instrumentation tools are those which are enabling exploration and enhancement of experimental and existing methodologies. It was declared in the past and we are observing it now that advanced distance education is changing with the advent of new interactive on-line learning technologies, multimedia electronic libraries and collaborative workspaces, improving knowledge sharing and education practices.