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E-Resources for Indian Universities: New InitiativesAcademic Libraries in India are facing the problem of shrinking/static budgets and simultaneous exponential rise in journal prices. The need of the hour is to find a pragmatic solution to this problem. Something substantial has to be done in order to facilitate access to scholarly resources to research scholars and faculties. UGC-INFONET and INDEST- Consortium are two major initiatives that have come to the rescue of academic libraries so that they can cater to the needs of academia depending upon them. These revolutionary steps are providing scholarly resources including peer reviewed journals, databases, abstracts, proceedings, etc. These efforts will definitely boost the higher education system in our country.