Thursday, October 11, 2012

225 B-schools have closed in 2 years in India

The service sector increasingly enjoyed a larger proportion of India's GDP over the past decade. Needless to say that the youth looked forward to procuring a job in this space. A degree in engineering or management or both became the visas to well paying white collared jobs. The booming software and financial sectors also managed to absorb scores of fresh graduates coming out of these institutes. Students who did not manage to fetch admissions in the few reputed institutions were wooed by plenty of other new institutes. The 'business' of opening engineering colleges and management institutes therefore became lucrative. Hundreds of new institutes came up in the past decade and thousands of aspirants queued up to join them. That was a time when the country added up to one lakh seats to its professional colleges every year.

A decade later, the picture is one of stark contrast. As per Economic Times, since 2011, 225 B-schools and over 50 engineering colleges across India have downed shutters. With the campus placement scene being dull and students finding the fess unaffordable, the new institutes now have few takers. It is not that Indians are no longer interested in investing in higher education. But institutes that merely offer a degree without being able to impart adequate knowledge have lost their sheen. At least this has helped separate the wheat from the chaff!

1 comment:

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