India is one of the largest and fastest-growing economies in the world, with a young and educated population. However, the country also faces the challenge of creating enough jobs and opportunities for its millions of graduates who enter the workforce every year. How was the employment situation of Indian graduates in 2023? What were the factors and trends that influenced the employability and hiring of Indian graduates? Here are some of the key points and statistics that can help answer these questions.
Employability of Indian Graduates
Employability is the ability of a person to get and keep a job, based on their skills, qualifications, and attributes. According to the India Skills Report 2023, the employability of Indian graduates improved from 46.2 percent in 2022 to 50.3 percent in 2023https://www.statista.com/topics/6583/employment-in-india/. This means that more than half of the graduates in India were ready for the job market, and had the skills and competencies that employers were looking for.
The report also found that the employability of Indian graduates varied by the degree and the domain that they had studied. For instance, the employability of MBA graduates increased from 54 percent in 2022 to 60 percent in 2023, while the employability of engineering graduates decreased from 49 percent in 2022 to 46 percent in 2023https://www.statista.com/topics/6583/employment-in-india/. The report also identified the top 10 domains that had the highest employability in India, such as banking and financial services, IT and ITES, hospitality, and health carehttps://www.statista.com/topics/6583/employment-in-india/.
The improvement in the employability of Indian graduates can be attributed to various factors, such as the increased awareness and availability of online courses and certifications, the alignment of the curriculum and the industry standards, and the enhancement of the soft skills and the behavioral traits of the graduateshttps://www.statista.com/topics/6583/employment-in-india/. However, there was still a gap between the demand and the supply of the skilled talent in the country, and the need for continuous upskilling and reskilling of the graduates to keep up with the changing requirements and expectations of the employershttps://www.statista.com/topics/6583/employment-in-india/.
Hiring of Indian Graduates
Hiring is the process of recruiting and selecting candidates for a job, based on their suitability and availability. According to the LinkedIn Emerging Jobs Report India 2024, the hiring of Indian graduates increased by 25 percent in 2023, compared to 2019https://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/. This means that more employers were looking for and hiring graduates in India, and that there were more job opportunities and openings for graduates in the country.
The report also found that the hiring of Indian graduates varied by the industry and the role that they were applying for. For instance, the hiring of graduates in the technology sector increased by 31 percent in 2023, compared to 2019, while the hiring of graduates in the education sector decreased by 9 percent in 2023, compared to 2019https://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/. The report also identified the top 10 emerging jobs in India in 2024, such as data analyst, software engineer, cybersecurity specialist, and artificial intelligence engineerhttps://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/.
The increase in the hiring of Indian graduates can be attributed to various factors, such as the rapid digitalization and innovation across all industries and sectors, the expansion and diversification of the businesses and the markets, and the recovery and resilience of the economy after the COVID-19 pandemichttps://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/. However, there was also a competition and a challenge for the graduates to stand out from the crowd and to impress the potential employers, and the need for the graduates to showcase their skills, achievements, and personalityhttps://www.statista.com/statistics/738255/employability-among-graduates-by-degree-india/
The employment of Indian graduates in 2023 has shown some positive and promising signs, as well as some areas and issues that need improvement and attention. The employability and the hiring of Indian graduates have improved and increased, respectively, but they also depend on the degree, the domain, the industry, and the role that the graduates have chosen or pursued. The graduates also need to be proactive, resourceful, and adaptable, and to keep learning and updating their skills and knowledge, to succeed and thrive in the job market.
Tech Alliance edit team