Worthless degrees are creating an unemployable generation in India
Many businesses say they struggle to hire because of the mixed quality of education. That’s kept unemployment stubbornly high at more than 7% even though India is the world’s fastest growing major economy. Education is also becoming an outsized problem for Modi as he attempts to draw foreign manufacturers and investors from China
Source | economictimes.indiatimes.com | Bibhudatta Pradhan and Vrishti Beniwal, Bloomberg
Business is booming in India’s $117 billion education industry and new colleges are popping up at breakneck speed. Yet thousands of young Indians are finding themselves graduating with limited or no skills, undercutting the economy at a pivotal moment of growth.
Desperate to get ahead, some of these young people are paying for two or three degrees in the hopes of finally landing a job. They are drawn to colleges popping up inside small apartment buildings or inside shops in marketplaces. Highways are lined with billboards for institutions promising job placements.
It’s a strange paradox. India’s top institutes of technology and management have churned out global business chiefs like Alphabet Inc.’s Sundar Pichai and Microsoft Corp.’s Satya Nadella. But at the other end of the spectrum are thousands of small private colleges that don’t have regular classes, employ teachers with little training, use outdated curriculums, and offer no practical experience or job placements, according to more than two dozen students and experts who were interviewed by Bloomberg.
