Information literacy forms the basis of lifelong learning which is common to all learning environments, information play very dynamic role and person cannot live without information. Information is available in different formats and from various sources. To get the right information at the right time from the abundance of unclassified data/information, the information user must be information literates. Information literacy develops sense-making ability among the users. The ability to access and use information effectively is a vital skill of the people. The information literates have an ability to take decisions, solve their problems and know how to learn. The concept of IL has been gaining more attention in higher education communities throughout the world. Several countries have developed Standards, models and adopted the same. The present paper deals with the concept of information literacy, its needs and importance. Further this paper explores about the information literacy initiatives in India, role of Government, Higher education institutions/organizations and Professional Associations. Researchers describe the significance of information literacy and recommended that academic experts and policy makers have to make all possible efforts to integrate information literacy programme with in the academic curricula of educational systems, starting from the elementary to the higher education, vocational education, professional education and research degree level and there is a need of information literacy policy in India.