We are witnessing fast paced progress in the field of higher education with the help of ICT tools and techniques in several countries of the world. However, this is not the case in India, where we are still struggling with several issues and challenges in Higher education, specifically in Management education. The use of ICT in Business education is becoming essential in view of the increasing trends of innovative products and services being launched in the industry and businesses. It is an imperative for the management education institutions to try and keep pace with the technology and business requirements in terms of business knowledge and job skills for the management graduates. Falling behind in this critical effort will further widen the gaps in the employability of the graduates, eroding the reputation and credibility of the management education institutions. This paper, through research conducted among the management institutions in Karnataka state in India, studies the level of awareness and abilities among the faculty members of management institutions to undertake specific activities in teaching process, using ICT tools and technologies. The results indicate that while some of the faculty members are aware of the activities and are in a position to use ICT in teaching, some others are not able to do so. It is suggested that extensive training programmes and workshops should be conducted for faculty members before the institutions consider implementation of ICT effectively.