In India, today, the number of unemployed population is huge. The International Labor Organization (ILO) estimates the rate of unemployment in India could be up at 3.8% at the end of this year. With the literacy rate growing in the country this statistics can be difficult to accept. This may be difficult to accept but not unfathomable.
In a report by McKinsey 'Education to Unemployment' it is noted that, there is a high percentage of lack of unemployment in the industry due to the lack of skillful workforce in the industry. In US, 45% employers say the vacancies at entry level jobs are due to the lack of skills. 42% of worldwide employers believe that entry level workers are not up to the mark skillfully to begin work.
According to the All India Council for Technical Education's numbers, the number of technical schools in India, including engineering colleges has increased to three times to what it was about a decade ago. While according to NASSCOM, 3 million graduates and post graduates are being added to the work force every year. Among them 25% are graduates are from technical background. However, only 10-15% considered as being employable by the IT/ITES industry.