The slide in recruitment from what are considered premier technical institutes reflects the possible impact of the economic downturn in India as also globally.
The slide in recruitment from what are considered premier technical institutes reflects the possible impact of the economic downturn in India as also globally. India’s estimated economic growth has slowed to 7.1% in 2016-17 from 7.9% in the previous year.
Larsen & Toubro Ltd, for instance, laid off 14,000 employees during April-September last year, saying it was necessary to stay agile and competitive.
The top seven IT firms in India are reportedly planning to lay off at least 56,000 engineers“Our placement drive was disrupted due to the cyclone this year and so there might have been a slight drop,” said Bhaskar Ramamurthy, IIT Madras director.
IIT Roorkee managed to place 653 of 974 campus job-seekers this year; that is 67% compared to 83% last year. Of the old IITs, only the one in Kanpur showed a slight improvement in campus placements this year.
In IIT Delhi, 502 of 563 students got job offers. Officials of the institute, however, said that the data might see a slight increase as the placements are still on. “There are a number of students who opt for higher studies or sit for civil services examination. Many start their own start-ups and so not everyone opts for campus placement. At the same time, jobs are not increasing and we are a mere facilitator between the companies and the students. As far as we know, anyone from IIT Delhi looking for a job will be able to get one,” said a senior official of IIT Delhi.
Some IITs such as the one in Mumbai remain optimistic, claiming that recruitment season was still on and the numbers might still go up by the end of June. However, most companies visit IIT campuses for hiring from December to February and any additions after that are usually marginal.
“The global slowdown is one of the major reasons. The number of offers companies have made has come down, though more companies have come for placements. Even e-commerce companies have reduced their offers. H1B visa issue has also impacted the placements,” said Professor Kaustubha Mohanty, convenor of All IITs Placement Committee.
“At the same time, there are more IITs vying for the same number of jobs so that has also affected job placements. We are confident that things will improve next year. A number of companies have started giving pre-placement offers in the third year itself when students go for internships in companies, which is a positive thing,” he said.
For more news updates Follow and Like us on Facebook