About 1/3rd to 1/5th of around a million students in India are finding themselves jobless. These graduates, after receiving their degree from any of the innumerable engineering colleges of the nation (offering unheard degrees) have to avail jobs in such an industry where there is a flood of the talent pool. Some are even compelled to enter industries that are much below their technical abilities.
Estimates say that India educates around 1.5 million engineers and interestingly the number is than China and US together. The primary reason for unemployment is sectors like Information Technology and Manufacturing have reduced their number of intake. Nasscom predicts that the Indian IT industry which once used to a suck 50-75% of these graduates is gradually hiring less year by year and this year the number would be 50,000 less than the previous. The manufacturing industry has also similar prospects.
AICTE says the number of engineering colleges has doubled from 1,511 in 2006-07. The entire ecosystem was built to nosh the IT industry but the jobs have not been able to keep pace with the number of graduates, said MD of Kelly Services, Kamal Karanth. When top institutes like IIT Bombay have been able to provide placements to almost all their students but colleges like Amity School of Engineering have their placements quiet. Some students who passed last year are yet to get their joining dates.
Students are becoming a part of the economic as well as the social strain of the nation and getting themselves indulged in underpaid jobs for which their qualifications are above par. While few students’ expectation have turned into crime, many others are committing suicide and the impact is going to be witnessed more vigorously in future says HR chief of Wipro. The strategies of companies are also changing; instead of looking into what you know they search for what you can do. The worldwide economic slowdown is also putting an impact, some experts believe.
source - newsmate