Unemployment in India: The $117 billion Indian education market is expanding, and new universities are opening up at a dizzying rate. Yet thousands of young Indians are graduating with little to no competence, undermining the economy at a critical juncture in its development. Some of these young individuals, desperate to advance, are paying for two or three degrees in the hope of one day finding employment. They are drawn to the colleges that are springing up inside of tiny apartment complexes or inside of stores in public places. Billboards promoting organisations promising job placement border the sides of highways.
No opportunities for internships or job placements
It is an odd paradox. Top technology and management schools in India have produced leaders in international business, like Sundar Pichai of Alphabet Inc. and Satya Nadella of Microsoft Corp. However, thousands of small private colleges at the other end of the spectrum lack regular classes, hire instructors with little training, use dated curricula, and provide no opportunities for internships or job placements, according to more than two dozen students and professionals interviewed by Bloomberg.
The difficulties of schooling are clearly visible
Students all over the world are thinking more and more about the value of a degree compared to its price. Globally and in the US, where for-profit colleges have been the subject of government probes, higher education has frequently caused controversy. But in India, the difficulties of schooling are clearly visible. According to some estimates, it has the greatest population in the world, and the government frequently emphasises the advantages of having more young people than any other nation. In spite of this, a survey by talent evaluation company Wheebox found that 50% of graduates in India will not be employable in the future because of issues with the educational system.
Prime Minister Narendra Modi tries to lure Chinese manufacturers and investors outside
Many companies claim that they have trouble finding qualified candidates to hire. Despite being the largest economy with the greatest growth rate in the world, India’s unemployment rate has remained persistently high at more than 7%. In addition, as Prime Minister Narendra Modi tries to lure Chinese manufacturers and investors outside, education is growing to be a major challenge. In his campaign speeches, PM Modi promised to create millions of jobs, and the topic is likely to be heavily addressed leading up to national elections in 2024.
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Using fictitious patients to satisfy medical college regulations
Tanmay Mandal, a 25-year-old inhabitant of Bhopal, paid $4,000 for his civil engineering bachelor’s degree. He was sure that the degree would lead to a decent job and a better way of life. He wasn’t discouraged by the costs, which were excessive for his family’s $420 monthly income. Despite the expense, Mr. Mandal claims he ultimately learned very little about construction from instructors who seemed to lack adequate training themselves. He has been unemployed for the past three years because he was unable to respond to technical interview questions. Due to its involvement in a lawsuit that reached the Supreme Court, one of Bhopal’s educational institutions has recently been under intense scrutiny. The RKDF Medical College Hospital and Research Centre in Bhopal was prohibited by the Supreme Court from accepting new students for two years in 2019 for allegedly using fictitious patients to satisfy medical college regulations. The college initially contended in court that the patients were legitimate, but after an investigation panel discovered that the alleged patients weren’t actually ill, the college made an apology.
The group ran into more controversy the previous year
The medical school is a member of the RKDF Group, which comprises a broad network of institutions in disciplines ranging from engineering to medicine and management and is a well-known brand in central India. The group ran into more controversy the previous year. For their involvement in awarding phoney degrees, Hyderabad police detained the vice chancellor of Sarvepalli Radhakrishnan University of the RKDF Group as well as his predecessor in May of last year. Nevertheless, students could be observed swarming into a number of the Bhopal-based RKDF institutes. Posters of their “Shining Stars” students, who were hired after graduating, were displayed in one branch.
Public spending on education in India has remained constant at 2.9% of GDP
According to the India Brand Equity Foundation, a government trust, the country’s education sector is expected to grow from $117 billion in 2020 to $225 billion by 2025. Compared to the US education sector, whose spending is thought to be far above $1 trillion, that amount is still very little. Public spending on education in India has remained constant at 2.9% of GDP, which is far less than the 6% target outlined in the current government’s education programme.
Qualifications required for employment in software-related roles at start-ups
In a 2018 article, Anil Swarup, a former secretary for school education, claimed that out of 16,000 colleges awarding bachelor’s degrees to teachers, a significant portion existed just in name. Big business faces a hurdle with all of that. Only 3.8% of engineers, according to a report by the human resources company SHL, possess the qualifications required for employment in software-related roles at start-ups. With its new 2020 education policy and pledge to raise the calibre of its institutions, the Modi administration is likewise attempting to solve the problems in the educational field. Additionally, it has started the process of permitting prestigious foreign universities to establish campuses and confer degrees within the nation. 28-year-old Pankaj Tiwari claims he paid $1,000 for a master’s degree in digital communication because he desired a job and a better social standing. His family’s annual income is $4,000,000, therefore that was a significant expenditure. Despite campus placements being promised by his college, no employer showed up, and four years later he is still without a job.
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