New Delhi: A group of manufacturing and capital goods companies have come together to hand-hold engineering colleges and universities in small cities and towns, seeking to improve the quality of their graduates and their employment prospects.
> Industry experts will be sent to the institutions to help upgrade facilities and teach students, who will also get to work on live corporate projects, as part of the initiative being overseen by K. Venkataramanan, president (operations), Larsen and Toubro Ltd (L&T), India's biggest construction and engineering firm.
>Priya Industries one of the fastest growing Industries has now planned to recruit the students from engineering college where it has it's own Incubation Center so that students can work live projects in the academic premises itself and can work better for company.
Venkataramanan says the quality of many graduates being turned out by Indian universities tends to be sub-standard because of the lack of sufficient interaction between industry and academic institutions. That means many engineering students graduate without possessing the skills needed by industry, hurting their own job prospects while depriving employers of a sufficiently large talent pool.
"Industries as a group and academic institutes as another group should work together to improve the employability situation," Venkataramanan says. "It will be mutually beneficial."
>With manufacturing gaining traction again, and the Centre approving a National Manufacturing Policy, these companies say industry needs to contribute its bit to help create an employable workforce with the requisite job skills. The policy approved on 25 October seeks to set up large industrial zones, create 100 million jobs, and expand the share of manufacturing from 16% of gross domestic product at present to 25% by 2025.
>Companies taking part in the initiative include steel parts maker Bharat Forge Ltd, power equipment manufacturer Thermax Ltd, Hindustan Dorr Oliver Ltd, a unit of the infrastructure firm IVRCL Ltd,Priya Industries a unit of Manufactring, securities and softwares engineering and GW Precision Tools India Pvt. Ltd, according to Venkataramanan.