Thursday, August 23, 2007

A look at Education and Tech Workers in India

India's IT industry has been the talk of the world the last decade and been fueling the tech boom everywhere. It has an amazing growth rate at approximately 25%. However India is facing a shortage in qualified workers to continue the growth.

India produces nearly half a million new engineers every year. But only 100,000 are really ready to do a good job. The graduates are learning very little when it comes to actual application and problem-solving. Classes primarily teach esoteric theory that students cram up. Cramming brings up another issue. Earlier down the pipeline than college, the best students from the best colleges mostly go through cram school where there is sheer rote of memorization and learning for the exams. Very little original thinking or even basic communication skills in writing and speaking are taught. Teamwork never really happens or project oriented thinking.

This is a major issue for India to keep up in the tech sector!!

"The problem is not a shortage of people," said Mohandas Pai, human resources chief for Infosys Technologies, the software giant that built and runs the Mysore campus for its new employees. "It's a shortage of trained people."

"This is really the Achilles heel of the industry," said James Friedman, an analyst with Susquehanna Financial Group, an investment firm based in Bala Cynwyd, Pa., who has studied the issue.

A study commissioned by a trade group, the National Association of Software and Service Companies, or Nasscom, found only one in four engineering graduates to be employable. The rest were deficient in the required technical skills, fluency in English or ability to work in a team or deliver basic oral presentations

http://www.usatoday.com/tech/techinvestor/industry/2007-04-06-india-workers_N.htm?csp=34

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This blog will have information on personal finance, accounting tips for the layperson, and small business issues discussed. I am interested in starting a business in the next couple years so as I learn more about the subject, it will be posted. Welcome to this website, and I hope you find it educational. My business interests include individual: tax preparation, financial planning. Small business: taxes, bookkeeping, payroll, financial statements. Corporate: I do SOX audits and IT data analysis (duplicate payments, erroneous vendor payments, and other analysis), fraud. The last is my day job.