This year graduates passing out from Indian Institute of Technology(IIT), one of the premier institutions in the country, are facing hardship in getting jobs.
According to a Hindustan Times report, only 66% students who participated in campus recruitment process got a job offer in 2016-17, as against 79% in 2015-16 and 78% in 2014-15.
The data was provided to the Ministry of Human Resources by the IITs. Out of 9,104 student in 17 IITs who applied this year, only 6,013 got jobs, the report adds.
Out of the 23 IITs, the data was shared only by 17 IITs.
The number showed a significant drop of placement percentage in these IITs.
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However, the HRD ministry refused to agree that the numbers are going down . It said that many PSUs(Public Sector Units) have recruited IITians through GATE score and those numbers will not reflect in the campus recruitment stats, the HT report adds.
India's economic downturn is also possibly one of the reasons which has impacted the service sector.
Top Indian IT companies are in the process of giving pink slips to thousands of its employees as part of their performance appraisal process.
It is believed that these are directed more towards cost control amid pressure on bottom line due to a rising tide of protectionism in most target markets.
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Indian software exporters in particular are facing headwinds in the business environment and stricter work permit regime in countries like the US, Singapore, Australia and New Zealand.
