Degrees but no job: Is a college education still worth it? The long-held belief that a college degree guarantees a stable job in India is facing growing scrutiny. For decades, students have followed a familiar path: study hard, earn a degree, and secure employment. This model, rooted in the economic liberalisation of the 1990s, created an unspoken social contract between education and work. However, recent data reveals this contract is unraveling. A report by Azim Premji University highlights a stark reality: 67% of India’s unemployed youth are graduates. In 2023 alone, over 1.1 crore young people without jobs held degrees—a sharp increase from 32% in 2004. Meanwhile, the share of graduates in the youth population rose from 10% in 2004 to nearly 28% in 2023. This mismatch between rising educational attainment and stagnant job creation has created a structural crisis. While higher education has expanded rapidly, the economy has not generated enough high-quality jobs to absorb the growing number of graduates. The result is a paradox: more degrees, but not enough employment. For earlier generations, a college degree was rare and thus highly valuable. Today, however, the value of a degree is declining as millions of graduates compete for limited opportunities. Data from the International Labour Organisation’s India Employment Report 2024 underscores the problem. Nearly 83% of India’s unemployed population are young people, with graduate unemployment nine times higher than that of individuals with little or no formal education. This raises a critical question: does a college degree still ensure economic mobility in India? The answer appears to be no. The issue is not merely a shortage of jobs but the hyperinflation of degrees.#nasscom #digital_india #azim_premji_university #international_labour_organisation #skill_india
India’s Skilling Ecosystem Faces Pressure as AI Adoption Surges As artificial intelligence becomes increasingly integral to startups and enterprises, India’s education system is being tested to meet the growing demand for AI-ready talent. Despite having the world’s highest AI skill penetration rate, the country continues to grapple with a significant gap between the skills required by the economy and those being produced by its skilling programs. Enterprises are now actively seeking professionals capable of building, deploying, and managing AI systems, creating a pressing need for upskilling. According to NASSCOM, India’s AI workforce of 6-6.5 lakh needs to double to 12.5 lakh by 2027. However, Bain’s projections suggest this number could rise to 20.3 lakh by the same year, driven by the rapid adoption of AI across Indian businesses. In 2024, 89% of startups were AI-powered, and 87% of enterprises reported active AI deployment. To address this demand, the government has expanded access to foundational AI education through initiatives like the National Education Policy (NEP) 2020, which introduces AI in Class VI, and the IndiaAI Mission’s YUVA program, which aims to train 1 crore citizens in basic AI concepts. The Pradhan Mantri Kaushal Vikas Yojana (PMKVY) 4.0 has already trained 36,584 individuals in AI. Yet, government efforts alone cannot bridge the widening skills gap. The private sector is playing a critical role in scaling AI education. Platforms like upGrad and Simplilearn are adapting their programs to meet the evolving needs of learners and employers. Anuj Vishwakarma, CEO of upGrad’s Higher Education Programs, noted that the focus has shifted from curiosity-driven learning to urgent, anxiety-driven upskilling.#nasscom #bain #upgrad #simplilearn #pradhan_mantri_kaushal_vikas_yojana
