Only 10% of India’s 1.5M Engineering Graduates Likely to Secure Jobs in 2024
An unbelievable 1.5 million fresh engineering graduates are expected to get a job in India in 2024. However, current studies indicate that just 10% of these graduates are likely to land their engineering positions. This concerning statistic underlines the widening gap between the nation's career chances and the number of engineering graduates. This will also impact the belief and confidence of engineering students. Recent studies also explain that due to a lack of opportunities maximum number of engineers looking for employment abroad which will impact India's economy as it regularly loses its brilliant minds.
Why Engineering Graduates Are Struggling to Find Jobs
Following are some specific reason that indicates that engineering graduates are struggling to find jobs:
- Outdated Curriculum
- Skill Gap
- Lack of Internships and Practical Training
- Lack of exposer during college days
- Huge number of Engineering Graduates
In India maximum number of students pursue engineering as their career which impacts not only them but other than the engineering field also impacted as they remain vacant.
In India, there is a huge production of engineers than the job. It also puts a huge burden on the government to release vacancies.
NASSCOM’s Perspective on Engineering Graduates
As per the information given by the Department of Information Technology, the NASSCOM in their Report “NASSCOM Perspective 2020: Transform Business, Transform India” has indicated an employability rate of 26 % for engineering graduates. A working group was constituted by the Ministry to examine the issues raised by NASSCOM. The Working Group has, inter-alia, recommended Finishing Schools for engineering graduates to enhance their employability, changes in the syllabi of various engineering colleges to make them compatible with the needs of the industry, etc. For the present, Finishing Schools are being organized by the IT sector to alleviate the problem.
The Findings by TeamLease
A recent report by TeamLease, a prominent human resource company, further confirmed the employment challenges faced by engineering graduates. According to TeamLease, less than 20% of engineers are employable in core engineering jobs, and only 10% will secure relevant roles by the end of 2024. It will impact the country's economy also.
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