Noting that an average of 1.5 million graduate engineers pass out every year, he said, that four-fifth of them are not employable due to lack of adequate skills.
Speaking on the skills of Indian engineers, Housing Development Finance Corporation (HDFC) Chairman Deepak Parekh on Wednesday said that as many as Four-fifth of the engineering graduates are unemployable. He added that teachers need to develop skills and undertake necessary training so that students become employable after graduating from college. Noting that an average of 1.5 million graduate engineers pass out every year, he said, that four-fifth of them are not employable due to lack of adequate skills.
The situation, he said, prevails despite having more than 3,300 approved engineering colleges in the country. “Education needs to be a dual balance of classroom instruction and practical or vocational training,” Parekh said.
The HDFC chief made comments after launching the “Deepak Parekh Institute Chair” at IIT Madras. “Given our rapidly changing world, it is the teachers who first need skilling and training so they in turn can teach a curriculum that is relevant to the times,” he said.
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IIT Madras, the premier Indian institute for engineering aspirant, provides opportunities for professors to endow Chairs with an initial sum, an IIT-Madras release said. About 15 professors, who work at the institution, have been named as Institute Chairs of which 11 were sponsored by various donors.
Professor T Pradeep, Department of Chemistry, would be the first occupant of the Deepak Parekh Institute Chair. As per the release, IIT Madras Director Professor Bhaskar Ramamurthi said the faculties who have been chosen for the Institute Chairs have made outstanding contributions nationally and internationally.
As per a recent statement by labour minister Bandaru Dattatreya, national average of unemployment stood at 5.8 percent. While the unemployment rate in rural areas of the country was 3.4 percent, in the urban areas it was 4.4 per cent. However, according to the SBI Ecoflash, contrary to market perception, India’s unemployment rate halved from 9.5 per cent in August 2016 to 4.8 per cent in February this year and among major states, a sharp decline was registered in Uttar Pradesh.