According to a recent report published by Mercer | Mettl, an online talent assessment company, only 45 percent of Indian graduates who apply for jobs possess the necessary skills to meet the rapidly-changing demands of the industry. The "India's Graduate Skill Index: 2023" study highlights that finding candidates with high employability in non-technical skills is relatively easier than finding candidates with high job readiness for technical skills.
For top technical jobs, the employability of graduates is around 44 percent, while for top non-technical jobs, it is 53 percent. Applied mathematics stands out with the highest employability rate at 72 percent, whereas AI/ML (artificial intelligence/machine learning) roles have a job-ready employability rate of 48 percent. When it comes to specific non-technical skills, project management has the lowest employability at 23 percent among in-demand roles. On-the-job skills like MS Office, accounting, and numerical ability demonstrate higher employability at 61 percent, 60 percent, and 57 percent, respectively. However, data science and data analyst roles show an employability rate of only 39 percent. Mercer | Mettl's CEO, Siddharth Gupta, emphasized the need for colleges and institutes across the country to adapt their curricula to equip students with future-proof skills that align with industry needs.
The study analysed data from 2,500 campuses and 440,000 learners in over 30 states and union territories, categorising them into college tiers (Tier 1, Tier 2, and Tier 3) based on the National Institute of Ranking Framework by the Ministry of Education. Surprisingly, there was no significant difference in employability based on college tiers. The employability rates were found to be 46 percent for Tier 1 colleges, 44 percent for Tier 2 colleges, and 43 percent for Tier 3 colleges. Moreover, employability for non-technical roles was higher across all college tiers when compared to technical roles.