Higher Education for the Future

This manuscript has been submitted to Higher Education for the Future

Journal Name: Higher Education for Manuscript ID: HEF-2023-0124

the Future
Manuscript Type: Original Article
Manuscript Title: Empowering
Engineering and Management
Education for Enhanced Employability
and Entrepreneurship: Perspective to
NEP and Start-up India

Keywords: Pedagogy, research in higher education, Academia,

EDUCATION, Delivering Employability Skills

MeSH terms:

Abstract: The study addresses the issue of the mismatch between the skills
of engineering and management graduates in India and the demands of the
job market. The study proposes a model that aligns with the National
Education Policy (NEP) and Start-up India mission to address the reduction
in the number of students enrolled in these fields due to lack of employment
opportunities and low success rates in establishing their own businesses. The
proposed model includes initiatives at both macro and micro levels, such as
evaluating institutes and universities, refining curricula, enhancing teaching
methods and evaluations, and ensuring high educational standards. The
study also suggests mapping courses with flexible learning paths, revamping
project-based and summer internships, and analyzing industry-specific
challenges with diverse solutions to achieve short-term, ongoing progress.
Additionally, the study proposes a comprehensive plan to support the growth
and scalability of start-ups and expand the pool of entrepreneurs among
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engineering and management graduates. The implementation of these

measures is expected to improve the employability and entrepreneurship of
graduates, leading to a more sustainable and prosperous future.
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1 Empowering Engineering and Management Education for Enhanced Employability and
2 Entrepreneurship: Perspective to NEP and Start-up India
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4 Abstract
5 The study addresses the issue of the mismatch between the skills of engineering and management
6 graduates in India and the demands of the job market. The study proposes a model that aligns with the
7 National Education Policy (NEP) and Start-up India mission to address the reduction in the number of
8 students enrolled in these fields due to lack of employment opportunities and low success rates in
9 establishing their own businesses. The proposed model includes initiatives at both macro and micro
10 levels, such as evaluating institutes and universities, refining curricula, enhancing teaching methods
11 and evaluations, and ensuring high educational standards. The study also suggests mapping courses
12 with flexible learning paths, revamping project-based and summer internships, and analyzing industry-
13 specific challenges with diverse solutions to achieve short-term, ongoing progress. Additionally, the
14 study proposes a comprehensive plan to support the growth and scalability of start-ups and expand the
15 pool of entrepreneurs among engineering and management graduates. The implementation of these
16 measures is expected to improve the employability and entrepreneurship of graduates, leading to a more
17 sustainable and prosperous future.

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19 Keywords: Employability, Entrepreneurship, NEP, Engineering, Management, Start-up India
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38 Introduction
39 Around the world, youth unemployment and underemployment are a widespread problem due
40 to various factors such as lack of fitment skills, work experience and job search abilities, along
41 with limited financial resources to secure employment. One of the most significant hurdles
42 India is facing today is the employability of its educated graduates. It is ironic that not only the
43 uneducated and untrained, but even the educated graduates do not meet the required skill
44 standards. According to a recent online media report, out of approximately two million
45 graduates in India, 47 per cent of them may not be suitable for various industrial roles.
46 Additionally, there are around half a million unemployed postgraduates in the country
47 (Financial Express, 2022). Simply observing a correlation between education and experience,
48 and employment does not necessarily prove that having more education or experience directly
49 leads to higher productivity and better chances of employment (Carnoy, 1987). Improving
50 education and developing skills in countries like India is a daunting task due to the country's
51 vast population and the various geographical, cultural, social, gender, and ethnic differences.
52 The latest Global Competitiveness Index 2019 shows that India has slipped down ten places to
53 68th and is ranked poorly at 114 out of 141 countries in the skills of future workforce indicator
54 (Schwab, 2018).
55 At the beginning of the 21st century, there was a resurgence in economic growth that was
56 fuelled by advancements in information and communication technology along with digital
57 technology. This reinforced the connection between education and economic prosperity,
58 creating a greater need for a workforce that equipped with multiple skills. Thus, the value of
59 managers and professional engineers has significantly increased in recent times, leading to a
60 rise in the importance of engineering and management education. Although both the streams
61 are currently functioning separately, they should be looked at together as they have a close
62 relationship and complementary concerns. Together, they are a crucial component of the
63 development spectrum, with vast potential for adding value to products and services, improving
64 the national economy, and enhancing the quality of life for people. Engineering and
65 management education play a crucial role in the human resource development of the country
66 by creating a skilled workforce, increasing industrial productivity and improving the quality of
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67 life for its citizens (Mohammadian & Rezaie, 2020).

68 It is a curious irony that, despite the high demand for graduates from prestigious engineering
69 and management schools, there is a scarcity of qualified candidates. On the other hand, there
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70 seems to be an oversupply of graduates from less distinguished institutions who frequently fall
71 short of employers' expectations and are left with jobs that are underpaid, or attempt
72 entrepreneurial ventures that do not succeed. This has resulted in a situation where there is an
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73 imbalance between the number of highly educated graduates available and the number of job
74 opportunities that require their skills and knowledge, causing a mismatch between supply and
75 demand in the job market. According to an Employability survey conducted by (Aspiring
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76 Minds, 2012), the quality of India's engineering graduates has not improved over the past
77 decade, with a lack of pace with next-generation technology skills being a major concern. The
78 report further indicates that 80 per cent of Indian engineers are not capable of working in the
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79 knowledge economy, and only two-fifth per cent of them have the necessary skills in Artificial
80 Intelligence (AI) that the industry demands. According to the National Sample Survey (NSS)
81 data, the unemployment rate for graduates in technical education was found to be the highest
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82 among all educational backgrounds, with a rate of 37.3 percent in 2018, with an increase from
83 the rate of 18.8 percent in 2012. (Mehrotra & Parida, 2019). Out of the 13 million individuals
84 who enter the workforce in India annually, only a quarter of management professionals and
85 one-fifth of engineers possess the necessary skills to be considered employable (Li, 2022).
86 Such figures bring into question the level of education provided by Indian engineering and
87 management institutions, suggesting that there is a need for these institutions to improve and
88 meet global quality standards.
89
90 The Background
91 In the last six years, there has been a decline in the number of technical institutions approved
92 by the All India Council for Technical Education (AICTE) in India. The count has reduced
93 from 10,258 institutes in 2012-13 to 8,997 institutes in 2021-22. The number of engineering
94 institutes has also dropped from 3,364 in 2015-16, which had the capacity to accommodate 1.6
95 million students, to 2,897 institutes with a reduced capacity of one and a half million students.
96 The situation is similar for management institutes as their number has decreased from 3,449 to
97 3,107 in 2021-22, and the intake capacity has decreased from 0.43
98 million to 0.4 million (Fig 1). The latest data available from AICTE database (aicteindia)
99 suggests that many engineering institutions are not in a position to fully use their intake
100 capacity. In 2012-13, 64.9per cent of sanctioned seats were filled, while in 2021-22, only 52.9
101 per cent of seats were filled. On the other hand, the admission rate for management institutes
102 has slightly increased from 53.45per cent to 59.18per cent. In the year 2021-22, approximately
103 8 lakh students enrolled in engineering and technology. Unfortunately, only about 51per cent
104 of these students got placed. Similarly, around 0.23 million students enrolled in management
105 programs, but only 50 per cent of them got placed1. The mismatch is due to low/irrelevant
106 quality of education the engineering and the management students receive (Tilak & Choudhury,
107 2021) and there is still the need for improvement in the education system to enhance students'
108 employability. A 2019 NASSCOM survey revealed that India produces one and a half million
109 engineering graduates annually, but only 250,000 of them manage to secure employment in the
110 core engineering sector (Sarker, 2023). According to Statista Research Department, around 80
111 per cent of engineering graduates end up pursuing non-technical jobs due to a lack of
112 employment opportunities (Tilak, 2020). In 2016 only 7per cent of MBA graduates from India's
113 top 20 business schools were able to obtain satisfactory employment and were considered
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114 employable in their field Conversely, 93 per cent of graduates from lower-ranked business
115 schools had to endure extended periods of unemployment or had to accept low-paying jobs that
116 paid between INR 8,000 to 10,000 per month (Assocham, 2016). (Aspiring Minds, 2012)
117 revealed that more than 90 per cent of graduates from business schools in India were deficient
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118 in the requisite expertise and understanding needed to become employable, implying a notable
119 deficiency in educational resources that had a direct impact on their employment opportunities.
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123 Defining Employability

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125 While many people may use the terms "employment" and "employability" interchangeably, but
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126 thjey have distinct meanings. Employment can be seen as the end result, meaning having a job
127 or being employed, while employability is a more general term that covers an individual's
128 readiness and ability to work. In essence, employability is a stepping stone towards
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129 employment, and it encompasses everything that makes an individual an attractive prospect for
130 potential employers (Khare, 2012); It is a personal attributes that make graduates more likely
131 to gain employment and be successful in their chosen occupations, which benefits themselves,

1 Retrieved from https://facilities.aicte-india.org/dashboard/pages/dashboardaicte.php on 25th April 2023

132 the workforce, the community and the economy (Yorke, 2006). Similarly, (Hillage & Pollard,
133 1998) described employability as graduates’ abilities to identify and improve their necessary
134 skills and the applicability of those skills in the context of a job market.
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137 The Aspiring Youth and Skill Gap
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139 In today's rapidly changing economy, it's not enough for job seekers to only possess the
140 necessary skills to obtain employment. Instead, they must continually improve and update their
141 skills in order to remain competitive in the job market (Amirtharaj et al., 2022). In India, there
142 is still a significant shortage of skilled workers in various industries (Salunkhe et al., 2022).
143 There have been reports of Indian engineering and management graduates struggling to find
144 jobs due to discrepancies between their college curricula and industry standards or practices.
145 Specifically, industry expectations in terms of creative, analytical, and leadership skills are not
146 being met by graduates (Das, 2015). In India, only 7per cent of the management graduates are
147 employable, and the rest struggle for the job (Raman & Pramod, 2022). This highlights a lack
148 of understanding among young workers who are entering the job market about the current job
149 roles and requirements that are in demand in this new wave of job opportunities that are
150 emerging in this decade. Businesses are expected to rely more on technology, necessitating
151 analytical thinkers and problem solvers to lead operations. With the growing use of artificial
152 intelligence and global competition, there is increasing anxiety about the future of work and
153 whether traditional academic programs can adequately prepare students for it (Kapareliotis et
154 al., 2019). Wheebox, an online talent assessment platform, conducted a study on over 2.3
155 million students and their career paths. The study revealed that there is a significant link
156 between skills and employability. The study also identified potential skill gaps in 10+ profiles
157 (Wheebox, 2022). However, with a relatively young population, India has the potential to
158 become a powerhouse in industrial development, provided that skilling programs are aligned
159 with emerging opportunities and holistic policies are in place to support workforce
160 development.
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162 Government Initiatives

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164 The government has introduced a new education policy (NEP) and the Start-ups India mission
165 aimed at reforming the education framework at various levels. These initiatives seek to enhance
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166 the employability and entrepreneurship skills of students by making the system more flexible
167 and multidisciplinary. The guidelines also focus on fostering ethical workplace behaviour and
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168 promoting innovation and entrepreneurship among graduates. The two policies align with the
169 overall goal of preparing students for a rapidly evolving job market. A detail about the NEP
170 and start-up India mission in context of the engineering and management education is given
171 below
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173 National education Policy
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174 The National Education Policy of 1986 had a key objective of using information technology to
175 modernize the education sector, and it also aimed to enhance the quality of education services
176 through increased autonomy for universities and colleges. However, it did not succeed in
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177 improving the employability skills of graduates or in promoting research output. In response
178 to the shortcomings of the previous policy, the National Education Policy of 2020 was
179 introduced which proposes a liberal education approach that supports interdisciplinary
180 education and research at both undergraduate and postgraduate levels (Aithal & Aithal, 2020).
181 The National Education Policy of 2020 aims to increase the Gross Enrollment Ratio (GER) in
182 higher education from 26.3per cent in 2018 to 50per cent by 2035, while simultaneously
183 improving the quality of Higher Education Institutions (HEI) and positioning India as a global
184 education hub by promoting the use of advanced technologies such as artificial intelligence,
185 big data, and machine learning in engineering and management education (Machahary &
186 Upadhyaya, 2022). To achieve this, the policy recommends a comprehensive overhaul of the
187 curriculum and pedagogy of engineering and management education, with a focus on flexible
188 and innovative approaches that encourage interdisciplinary and experiential learning.
189 Start-up India
190 Entrepreneurship, and job growth are closely related, as evidenced by research conducted by
191 (Glavin, 2013) and (Subrahmanya, 2015). In fact, start-up companies have been found to make
192 significant contributions to job creation. The importance of entrepreneurship education in
193 academic institutions cannot be overstated, as it not only supports the growth of start-ups, but
194 also has positive impacts on the broader economy and society (Newman et al., 2019). It is
195 possible to cultivate entrepreneurship skills, attitudes, and traits among students through
196 various teaching methods, processes, and courses (Bae et al., 2014; Fayolle et al., 2006). Many
197 countries, including India, are seeking to address youth unemployment by encouraging youth
198 entrepreneurship. Indian government has implemented various initiatives, such as the 'Start-up
199 India' program, to promote and support the growth of start-up ventures. The AICTE's Student
200 Start-up Policy, launched on November 16th, 2016, is aligned with the "Start-up India'' Action
201 Plan of the Indian Government. The policy includes incorporating entrepreneurship as a career
202 choice, integrating start-up focus into academic curriculum and teaching methods. Under this
203 policy professional courses offered by educational institutions are required to include a degree
204 program that focuses on start-ups, with a specialization option for students in "Start-up:
205 Launching and Sustaining". By doing so universities can not only encourage students to
206 undertake new entrepreneurial ventures but can also promote entrepreneurial thinking to help
207 turn ideas into action (Leitch et al., 2012; Mustar, 2009)
208

209 Need for improvement

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210 Although NEP and Start-up India schemes have the potential to bring significant
211 transformation to the Indian economy by generating a skilled workforce and promoting job
212 opportunities, there is still a considerable scope for enhancement. Many engineering and
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213 management universities and institutions have not yet fully adopted or integrated the guidelines
214 and characteristics of these two policies into their practices. Various challenges need to be
215 addressed to ensure that the intended outcomes of these initiatives are achieved. This study
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216 aims to explore the necessary changes required in the implementation of these policies to
217 achieve better employability outcomes. The focus will be on the strategies that can enhance the
218 employability and entrepreneurial skills of students.
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220 A model has been created, as depicted in Figure 2, to mitigate the existing gaps in the adoption
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221 of NEP and Start-up India guidelines by institutes. This model will recommend measures that
222 will enhance employment opportunities for students by aligning the curriculum with industry
223 demands and providing training in relevant skills and foster a culture of innovation, creativity,
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224 and entrepreneurship among students by proposing certain changes and restructuring in the
225 existing curriculum of the engineering and management institutions. This model seeks to bring
226 about positive outcomes for both the students and the economy as a whole by creating a skilled
227 workforce capable of driving innovation and growth. The fundamental structure of the model
228 is designed to align with the goals set forth by the NEP and Start-up India policy of the
229 government, which aims to achieve the key result area (KRA) which is enhancing the
230 employability and entrepreneurship among engineering and management graduates
231 (EEEEMG).
232
233 There is a significant difference in the ranking of engineering and management educational
234 institutions based on the standardized criteria and guidelines set by various accreditation bodies
235 and well-known ranking agencies. This variation is a cause of concern for the employability
236 and entrepreneurship development of graduates. Our model, as shown in Fig 3, suggests
237 specific areas for improvement in order to increase the effectiveness of both the NEP and the
238 Start-up India Mission. The first area pertains to practices that should be adopted by universities
239 and institutes both at macro and micro levels, which should align in accordance with the
240 National Education Policy (NEP). The second aspect is the road map for fulfilling the goals of
241 the Start-ups India Mission and achieving start-up scalability.
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244 a) Macro Level Improvement strategy

245 According to the AIECT data, the number of engineering and management institutes has
246 significantly decreased in the last decade. To address this issue and ensure the long-term
247 sustainability of institutes and universities, a proposed model has been developed that outlines
248 macro-level improvement strategies like refining the overall curriculum by benchmarking it
249 both internally and externally, improving pedagogy, restructuring assessments, and redefining
250 the course and program outcomes to meet the current industry requirements and escalate
251 continuous employability to meet the final goal (Fig 3).
252 Benchmarking of stream wise skill-based courses and industry application based subject lab
253 To address the need for specialized skills among students, universities and institutes should
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254 introduce elective courses that focus on specific skills and include practical lab sessions using
255 industry-specific software. To ensure high quality standards, these courses should be
256 benchmarked against renowned universities and business schools. Furthermore, institutions
257 used for benchmarking should be chosen based on their industry partnerships and their track
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258 records of student placements, which guarantees that they establish consistent relationships
259 with the industry. Updating obsolete standard operating procedures (SOPs) and benchmarking
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260 skill-based courses will give students an edge in the profession they have chosen. By offering
261 industry-based subject laboratories, students would have the opportunity to develop the
262 necessary skills and expertise required for various industries. For instance, a graduate in
263 mechanical and electrical engineering would need to acquire skills in areas such as automotive
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264 engineering, non-destructive testing (NDT), inspection and quality engineering, applications
265 of Six Sigma, Total Quality Management (TQM), Supervisory Control and Data Acquisition
(SCADA), and numerical relay settings to be job-ready. These labs would aid in developing
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266
267 these skills and making students ready for the industry.

268 Revamping of Pedagogy, Assessment System and Learning Curves ratio

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270 Educational institutions need to modernize their pedagogy to comply with the demands of
271 Industry 4.0. To achieve this, faculty development programs (FDPs) should include sector-
272 specific courses that focus on industrial applications. The current assessment, credit, and
273 marking system is insufficient and only fosters theoretical learning up to level 3 in Bloom's
274 Taxonomy, while levels 5 and 6, which correspond to evaluation and creation, are hardly
275 engaged. Therefore, practical and innovative real-world case solutions should be incorporated
276 into internal evaluation and external examination, with certain credits to be allotted for specific
277 industry skill-based certification courses. Learning curves (which measures the rate of a
278 person’s progress in gaining experience and new skill) should be used to measure the levels of
279 learning of students in industry-specific hard-core subject skills and workplace ethics. By
280 delivering knowledge and skills for application-oriented learning, this pedagogy can reduce
281 unfilled positions, improve the learning curve ratio, and produce future productive resources.

282 b) Micro Level Improvement strategy

283 Micro level improvement strategies refer to the short-term sustainability, which corresponds to
284 mapping each course objectives and their outcome. This includes introduction of flexible
285 learning pathways (FLP) for subjects with fundamental concepts as well as the practical
286 subjects which will help in fulfilling sector specific job requirement.
287
288 Flexible Learning Pathways (FLP) in Collaboration with industry experts
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290 Engineering and management institutes and universities have recently experienced issues in
291 adapting and responding to quickly changing innovations in industries and societal
292 requirements, both before and after COVID. To solve this, the notion of flexible learning
293 pathways has arisen, which entails building numerous learning pathways to satisfy students'
294 diverse needs. A UNESCO publication from 2022 claims that institutions with curriculum
295 reorganizations based on flexible higher education systems are better positioned to facilitate
296 fairness and lifelong learning. This reorganization can be accomplished by using flexible
297 delivery methods, and changing the curriculum gradually to be more labour market-oriented.
298 Engineering and management institutions who have adopted flexible learning pathways have
299 observed favourable results for their students and have matched their learning to the needs of
300 Industry Revolution 4.0 and a more interconnected society (UNESCO, 2022)
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301 Summer Internship Projects (SIP) and Project Based Learning (PBL)

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303 According to a recent study, 75per cent of companies will prefer individuals with cognitive,
304 interpersonal, and self-leadership qualities in the future (Cook-Deegan, 2022). Therefore,
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305 Summer Internship Projects (SIP) and Project-Based Learning (PBL) are critical teaching
306 strategies that will enable students to actively participate in real-world projects while learning
307 through personally relevant experiences. To incorporate PBL practices into the institutes,
308 collaborations with industries can be started to work on brief, creative tasks that attempt to
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309 offer solutions to actual workplace issues, such as sustainability, reliability, safety, and
310 environment. The effectiveness of PBL can be increased by using advisory services offered by
professors and research associates as well as the use of technical and research-focused software
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312 in the analysing the problem.
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314 Detailed roadmap for achieving the Goals of Start-up India

315 The Start-up India policy, which was implemented in 2016, is aggressively supporting
316 entrepreneurship at various educational levels. However, there are still inequalities in the
317 adoption of start-ups because of two key factors: the dearth of need-based start-ups related to
318 industrial products and processes, and the requirement for a greater talent pool of aspiring
319 entrepreneurs among engineering and management graduates in India. A lack of knowledge
320 about the types and capacities of incubation centre facilities offered by various colleges and
321 organizations is another issue. A thorough roadmap is required to stimulate the growth and
322 scalability of start-ups and to boost the pool of entrepreneurs among engineering and
323 management graduates. The following initiatives can be undertaken to improve the usability
324 of available resources, and to enhance the Start-up India mission's scalability.

325 Awareness and ease of provisions for innovations at incubation centres

326 The Atal Innovation Mission, which is a major initiative of NITI Aayog, aims to create an
327 entrepreneurial ecosystem in universities, research institutions, and MSME sectors. It uses real-
328 time MIS systems and dynamic dashboards for systematic management and monitoring. Atal
329 Incubation Centres (AICs) in different institutions and corporations support the development
330 of world-class innovations and encourage dynamic entrepreneurship at every level of
331 education. However, these incubation centres need to upgrade their facilities to cater to
332 industry-specific projects and revise their step-by-step procedures for institutions and
333 universities. Additionally, MSME provisions for research and innovation-based start-ups may
334 need to be linked to these incubation centres. Awareness and prototype execution facilities
335 should be shared online with the associated institutes, coordinators, and other partners. This
336 will enhance the progress of need-based start-ups in real-time and increase the usefulness of
337 incubation centres. The faculty pool and industry associates should also work on start-ups
338 under their expert guidance.

339 Start-ups to be aligned to provide solutions for industry-based problems

340 The Harvard Business Review article suggests that for start-ups to succeed, they should
341 embody two fundamental attitudes: collaboration or competition, and creativity. (Erin L S and
342 Scott S, 2018). These attitudes will influence the start-up's judgements concerning customers,
343 technology, identity, and competitive space, and will keep them from making rash decisions
344 during the incubation period. When addressing the competitiveness issues faced by existing
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345 companies in the manufacturing or service sectors, start-up founders can develop their
346 entrepreneurial strategy to solve practical and applicable solutions. These strategies, known as
347 go-to-market strategies, offer different ways for the start-up to create and capture value as they
348 move from an idea to the launch stage. By collaborating with established players and having
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349 access to their resources and supply chain, start-ups can enter an established market more
350 quickly and effectively.
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351 Scalability of Start-up

352 Start-ups can fail due to various reasons such as lack of demand in the market, inability of the
353 team to lead for a longer period, being outcompeted, and absence of validation of the business
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354 model strategy, misreading market demand, competition, misaligned founders, pricing and
355 product value issues(TalentEdge, 2022). In such situations, it is essential to review the roadmap
356 and filter out the priority sector-specific needs that can enhance the scalability of start-ups. This
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357 can be achieved by collaborating with industries through MOUs based on specific
358 requirements.
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360 Developing road map for start-ups in diversified sectors

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362 India's start-up landscape offers promising opportunities in several industries, including IT,
363 healthcare, and education. However, there are untapped sectors that start-ups can explore, such
364 as cost-effective logistical infrastructure, industry-specific professional consultancies,
365 research, and sustainable renewable energy. Prioritizing sector-specific start-ups and investing
366 in research and innovation in institutes and universities can help drive development in these
367 underexplored areas. This approach can give start-ups a competitive edge and enable them to
368 create new technologies and solutions to meet the evolving needs of the market.
369
370 Collaboration with industries and establishing MOU’s
371
372 Top-ranked institutes in India such as IITs, IIMs, and others are collaborating with specific
373 industries to add practical-based subject learning and curriculum integration with allied
374 software. For example, Microsoft signed an MoU with IIT Mumbai to support and foster start-
375 ups, while ISRO and Microsoft integrated collaboration to assist space tech start-up (India
376 Times, 2023; The Indian Express, 2023). Additionally, the Consortium for Technical
377 Education and the Andhra Pradesh Innovation Society have signed an MoU to establish a center
378 of excellence in information technology and cyber security (Outlook India, 2023). These
379 initiatives drive the need for start-ups and promote entrepreneurship development in institutes
380 and universities, while coping with a small incremental economic perspective of the country.
381 Implementing similar initiatives under the prescribed guidelines of Start-up India in each
382 engineering and management institute will reflect rapid progression in developing successful
383 entrepreneurs not only in the IT sector but also in other streams as well.

384 Framework for benchmarking institutes and universities w.r.to adoption of sector
385 specific skill courses

386 Institutes and universities should adopt sector-specific skills courses to improve the
387 employability of their graduates according to the needs of industries. A 2x2 matrix model based
388 on the Boston Consulting Group's concept has been developed, which correlates the Sector
389 Specific employability opportunity (SSEO) on the vertical axis and the Adoption of Sector
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390 Specific Skill Certification course (ASSSCC) on the horizontal axis (Fig 4). This matrix serves
391 as a guide for universities and institutes to address the imbalance in skill certification courses
392 and employment prospects. Each quadrant of the matrix represents unique features,
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393 assessments, and measures that universities and institutes need to take in order to ensure that
394 their graduates have sustained employment opportunities.
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395 High employment opportunities and High Skill Zone

396 This area is highly attractive to job seekers due to the abundance of job opportunities that
397 require sector-specific skills. Institutes in this region offer a diverse range of skill-based courses
398 tailored to different fields, allowing students to choose according to their interests. To run a
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399 course, these institutes generally require a minimum number of students to register for the
400 course. Typically, the courses offered in this zone are focused on one or two priority sectors,
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401 mostly in the IT-based service industry. This results in intense competition among students
402 during placement, limiting their employment opportunities beyond their chosen field. To
403 address this issue, institutes can use Pareto analysis to collect statistics and broaden the criteria
404 for skill-based courses required in other sectors. Pareto analysis is a helpful tool that provides
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405 a graphical indicator of decreasing bars with corresponding data values for categorical
406 variables. By conducting this analysis, institutes can expand the range of skill-based courses
407 needed in the other diverse sectors.
408 High employment opportunities and Low Skill Zone
409 The quadrant is an attractive region that offers many job opportunities requiring industry-
410 specific skills. However, the educational institutions in this area have limited course offerings
411 and inadequate software solutions, resulting in graduates being ill-prepared for employment
412 despite the abundance of job opportunities available in the market. Therefore, it is crucial to
413 introduce globally recognized certification courses based on employability opportunities and
414 prioritize them accordingly. Additionally, institutes can collaborate with industries to
415 undertake projects that focus on innovation, reliability, safety, sustainability, and cost-
416 effectiveness, providing industry-specific learning to students, increasing their employability,
417 and enhancing the institute's reputation.

418 Low employment opportunities and high skill zone

419 This zone is unattractive and lacks employment opportunities across most sectors, possibly due
420 to a recession or the restructuring of industries during a transitional phase. Institutes in this
421 zone have already introduced skill-based courses based on their available facilities and faculty
422 expertise, but graduates may not be employable due to the aforementioned reasons. To address
423 this, institutes need to assess the current and future requirements of specific industries and
424 collaborate with start-ups and companies to provide employment opportunities. Additionally,
425 they should involve industry experts to develop futuristic skill-based courses that can be
426 introduced in stages and aligned with the institute's offerings.

427 Low employment opportunities and low skill zone

428 This zone has limited potential for employment across various industries and also youth with
429 low skill sets to get employed. In such a situation institutes need to develop skill-based courses
430 either on their own or in partnership with globally recognized certification programs.
431 Furthermore, the institutes should collaborate with companies to identify job opportunities with
432 innovative ideas linked with start-ups and research in reference to plant and process reliability,
433 safety, cost economics in different sectors. By doing so, the institutes can gradually increase
434 the likelihood of providing continuous employment opportunities and fostering entrepreneurial
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435 leadership for their graduates.

436 Concluding Remarks

437
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438 This study offers a basic model to address the decline in enrollment in engineering and
439 management programs over the last six years, which can be attributed to limited employment
440 opportunities and low success rates for graduates starting their own businesses. The proposed
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441 model is aligned with the National Education Policy and the Start-up India initiative and
442 suggests interventions at both macro and micro levels. At the macro level, the study suggests
443 refining curricula, improving teaching approaches and assessments, benchmarking institutes
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444 and universities, and ensuring high learning standards. At the micro level, the study
445 recommends offering flexible learning paths, rethinking internships, and analyzing industry-
446 specific challenges to facilitate progress. In addition, the study proposes a comprehensive
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447 roadmap to support start-up growth, scalability, and the expansion of entrepreneurship among
448 engineering and management graduates. The study also presents a framework for
449 benchmarking institutes and universities based on the Boston Consulting Group's concept,
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450 which correlates the Sector Specific employability opportunity (SSEO) and the Adoption of
451 Sector Specific Skill Certification course (ASSSCC). The proposed matrix serves as a guide
452 for universities and institutes to address the imbalance in skill certification courses and
453 employment prospects. By implementing these interventions, it is expected that there will be a
454 significant improvement in employability and entrepreneurship among graduates, leading to a
455 sustainable and prosperous future.

456 References

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 1 Figure Captions
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4 Fig 1: Trend in Engineering and Management Institutes and their Intake Capacity in India,
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7 Fig2: Intended outcome of policies (NEP and Start-ups India) and need for improvement
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9 Fig3: Framework for enhancing employability and entrepreneurship of Engineering and
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12 Fig4: Strategic adoption of skill base certification course V/s Employability opportunity
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