“Somewhere between a fifth to a third of the million students graduating out of India’s engineering colleges run the risk of being unemployed. Others will take jobs well below their technical qualifications in a market where there are few jobs for India’s overflowing technical talent pool. Beset by a flood of institutes (offering a varying degree of education) and a shrinking market for their skills, India’s engineers are struggling to subsist in an extremely challenging market.”

http://articles.economictimes.indiatimes.com/2013-06-18/news/40049243_1_engineers-iit-bombay-batch-size