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This paper describes the development of library and information studies/science (LIS) into different phases during the last century. Academic programs and preparation of LIS professionals have witnessed a continuous change. It is realized that unless this process of change of curriculum is clearly envisaged in the future, LIS professional would become irrelevant in the emerging market. For this purpose, new competencies have been defined that the LIS professionals need to possess in the light of i.e. Special Libraries Association (SLA), American Library Association (ALA) and Association of Southeastern Research Libraries (ASERL) competency documents. That has led to articulation of modules of coursework that could serve as benchmarks for curriculum revision and design. A number of environmental, organizational, and professional challenges have been identified that could impeded the process of change and curriculum redesign.