The Times of India | Prachi Verma | ET Bureau | December 5, 2015 |
NEW DELHI: The Make in India story seems to be working well at the Indian Institute of Technology (IIT), Delhi, this placement season. Four students have spurned overseas offers that would have paid them more than Rs 1 crore annually for local jobs in the core engineering space at a much lower salary, said people associated with the placement cell. That’s out of a total eight international offers in the crore-plus range, they said. “These are the international companies that come every year to the IITs for placements,” said one of those cited above, without elaborating. The overseas companies that seek recruits every year at the institute include Google, Visa, Oracle and Microsoft. The four who have chosen domestic employment will get a fifth of what overseas companies were offering, said one person, marking a radical departure from the usual criterion for job selection — salary. Consulting, finance, technology and ecommerce companies generally comprise majority that come to campus on Day 1. That mix has changed at IIT Delhi with the Narendra Modi government pushing institutes, academia and industry to contribute to Make in India campaign, which seeks to turn India into a hub for manufacturing to generate employment and boost growth. IIT Bombay also went out of its way to give more Day 1 slots to core engineering companies than last year. This effort seems to have paid off as about 60 of 172 offers came from core companies compared with 35 out of 174 last year, according to a person at the IIT Bombay placement cell. IITs in Guwahati and Roorkee may do the same next year. “We are internally evaluating to let more core companies take early slots,” said a person at IIT Guwahati. “Most IITs recognize the need to contribute to Make in India campaign,” said IIT Madras placement advisor Babu Vishwathan.
ET View: Don’t pay peanuts to engineers
Picking a job of ones choice is fine. However, to expect graduates from premier institutions to join the engineering sector by the droves is naive. India’s manufacturing companies should start paying competitive salaries to attract and retain the best talent. These companies have no choice but to up the game in manufacturing and invest hugely in research and development. Raising the bar in manufacturing will enhance their ability to offer remunerative salaries to highly skilled workers. Policies must be tailored to accelerate innovation as well. This will ensure the success of Make in India and motivate engineers too.- Courtesy