New Delhi, June 22, 2017: India's higher education system is unable to respond to society's changing needs as only 40 per cent executives believe that new employees recruited in local labour markets have requisite skills, says an IBM study.
According to the study by the IBM Institute for Business Value (IBV) in cooperation with Economist Intelligence Unit, addressing the looming talent shortage will be instrumental in preparing India for the competitive global economy.
A good 61% of India's surveyed educators said the higher education system is unable to respond to the changing societal needs. Moreover, new technologies, ever-changing skill requirements and outdated curricula are challenging India's higher education system in its efforts to equip graduates with job-ready skills.
"Between 2010 and 2030, India's working population is expected to expand from 750 million to almost one billion. Without adequate education and training, such population growth poses increased risk of the emergence of a growing class of the under- or unemployed who are unable to achieve the Indian middle class dream," the study noted.
The study suggested developing more practical, applied, experience-based education, embracing technologies that improve educational access, experience and outcomes, and building deeper relationships with ecosystem partners which will be instrumental in transforming the educational system.
The IBM study took insights from a survey of academics, corporate-recruiters, and emerging education leaders in India. In addition, the study analysed results of recent surveys of startup entrepreneurs, venture capitalists and corporate executives.