India's top engineering colleges, including the prestigious Indian Institutes of Technology (IITs), once guaranteed promising careers, but current graduates are facing significant challenges in the job market. Data from RTI applications filed by IIT Kanpur alumnus Dheeraj Singh reveal that about 8,000 IITians (38%) across 23 campuses are unplaced this year. Arvind Raj, Chief HR Officer at Mindsprint, attributes the decline in placements to factors like economic slowdown, changing industry demands, and a mismatch between acquired and required skills.
According to a TeamLease Digital report, only 10% of the 1.5 million engineers graduating this fiscal year are expected to secure jobs, highlighting the employability issue. The World Economic Forum notes that merely one in five engineers and one in ten graduates entering the workforce are considered employable. Ramesh Alluri Reddy, CEO at TeamLease Degree Apprenticeship, observes a shift towards specialized IT skills like cybersecurity, data architecture, cloud computing, and software development. There is also rising demand for SAP expertise, automotive design, and testing.
Despite the downturn in IT hiring, sectors such as e-commerce, technology startups, engineering, infrastructure, telecom, and manufacturing show strong hiring intentions. Contrary to fears that generative AI would reduce jobs, experts argue that AI technologies are creating new opportunities. Raj notes that generative AI allows engineers to focus on innovation, solving complex problems, and improving processes, emphasizing the need for skilling programs to fully leverage AI's potential.
The integration of AI is expected to boost employment in sectors like pharma, retail, and healthcare. Foreign investments in electronic manufacturing are also projected to create over 20,000 jobs. India's technology sector, particularly in AI and Machine Learning, is undergoing significant transformation, with demand for skilled professionals growing rapidly.
Emerging industries such as renewable energy, sustainable infrastructure, and supply chain management offer promising career paths. India's National Green Hydrogen Mission aims to produce 5 million metric tons of green hydrogen by 2030, creating 600,000 jobs. The electric vehicle (EV) industry is expected to generate 10 million direct and 50 million indirect jobs by 2030. The Ministry of Civil Aviation also foresees substantial investment and job creation in drone manufacturing.
There is also a growing demand for roles in chip design, microfluidics, embedded systems, AI and machine learning, computer vision, natural language processing, cloud engineering, and user experience design. As disruptive technologies reshape the job market, traditional career pathways are becoming less relevant, highlighting the need for technical skills and soft skills like problem-solving, critical thinking, and effective communication. Certifications in data analytics, cybersecurity, and project management can enhance employability.
To address the skills mismatch, aligning apprenticeship programs with formal education and fostering collaboration between academia and industry are crucial. Key sectors like automotive, electronics, and ITES are major employers of apprentices. The National Apprenticeship Training Scheme (NATS) is expanding white-collar apprenticeships, providing hands-on training in diverse fields. The number of apprentices has grown from 35,000 in 2018-19 to 926,000 in 2023-24, with annual growth rates of 35%-40%, reflecting the increasing importance of apprenticeships in India.
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