"Shubh Kumar graduated from IIT Patna, one of India's famed Institutes of Technology - universities that attract millions of applicants but admit only 18,000 undergraduates. Google CEO Sundar Pichai and IBM boss Arvind Krishna are both IIT alumni, and employers seek out IIT students. New grads are generally optimistic that attaining a degree at one of the 23 institutes is a great start to a career. But that dream didn't come true for Kumar."
"The country's top five IT services firms, once a common destination for young engineers, hired around 100,000 graduates in FY 21 but are projected to employ only 70,000 by FY 26. Other companies are also hiring fewer early-career IT pros. Data from tech staffing and HR services firm TeamLease suggests graduate hiring by Indian tech companies peaked at 600,000 in FY 21-22, then plunged to 150,000 in both 2023 and 2024."
"Over half of the 23 Indian Institutes of Technology (IITs) saw graduate placement rates fall by more than 10 percentage points between 2021-22 and 2023-24, according to the "Demands for Grants" report [PDF] prepared for India's Department of Higher Education. A Parliamentary Standing Committee called this decline "unusual," noting similar trends at other universities and shrinking average starting salaries. The committee has urged the Department of Higher Education to find ways to boost student employability."
A graduate from IIT Patna lost a startup job offer weeks before joining after the company cited "significant consolidation" and an "extremely challenging financial position." IITs attract millions of applicants but admit only about 18,000 undergraduates across 23 institutes, and many prominent tech leaders are alumni. Employer demand for early-career IT workers has declined markedly. The top five IT services firms hired around 100,000 graduates in FY21 but are projected to hire only 70,000 by FY26. TeamLease data shows graduate hiring peaked at 600,000 in FY21-22 and fell to 150,000 in 2023 and 2024. Over half of IITs saw placement rates drop more than 10 percentage points between 2021-22 and 2023-24, and a Parliamentary Standing Committee labeled the decline "unusual" while urging measures to boost student employability.
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