The present research attempts to study the technology transferring process in universities of India. India, for past few decades, is focusing on improving its university standards to match the international standards. Government of India are funding universities and establishing technology parks to encourage the growth of this emerging sector. Industries also play a vital role for fostering technological excellence in universities. In this research work, secondary and primary methodology was used to collect data. Questionnaire was send through email to various universities in India. The statistical data analysis was conducted by applying independent-samples T-test to compare results using statistical software, SPSS. Study focuses on development of technology institutes in India, shows relationship between the university and potential financer of projects, estimates the number of institute involved in the spinoff process and determine the effect of late economic liberalisation on technology transfer process and shows examples of various universities.