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So many graduates, so few skilled Almost half of India's 5m fresh degree holders each year are unemployable - See more at: http://www.stasiareport.com/the-big-story/...h.GVE7Yl0b.dpuf GIVEN his first-class degree in accountancy, young Kunal Gurab appears over-qualified for his current job as a data-entry executive at a leading Indian outsourcing firm. "I took up this job because I failed to find a job of my choice in finance," said the 24-year-old employee at a call centre run by Tech Mahindra just outside New Delhi. "In all job interviews, I was told my course did not teach me the skills needed for accounting or banking." Mr Gurab's disconcerting discovery reflects the experience of almost half of the five million Indians who receive college degrees every year but are unemployable in an economy left thirsting for skilled hands. Poor-quality education is largely responsible for the problem, alongside a lack of vocational training to develop job-relevant skills. A mismatch between students' aspirations and the job market is also to blame for the growing army of unemployable graduates in India. Last month, in a first-of-its- kind employability audit among Indian graduates, hiring solutions company Aspiring Minds found that 47 per cent of the respondents were not worth recruiting because they lacked English fluency and skills such as problem solving or use of computer software. "There is a mismatch in what our education system is producing and what industry is looking for," said Mr R.V. Kanoria, former head of the Federation of Indian Chambers of Commerce and Industry (FICCI), one of India's top industry lobbies. India has a workforce of about 480 million but, according to an FICCI estimate, only 5 per cent of that pool have "marketable skills", compared to 50-60 per cent in countries such as Japan and Germany. Agriculture still employs over half of India's workforce in low-wage, low-productivity jobs even as labour needs shift from farming to industry. This has massive implications for the country's young. More than half of India's 1.2 billion people are under the age of 30, and some 12 million Indians are expected to join the workforce every year over the next decade. "We don't want a glut of educated unemployed in a skills-driven job market," said Mr Dilip Chenoy, CEO of the government-backed National Skill Development Corporation. When India liberalised its economy in the 1990s, it helped improve living standards for millions, but its socialist-era education system remained heavily regulated, churning out a greater number of literates grown on a culture of rote learning and white-collar dreams. Millions of educated Indians still lack fluency in English, the language of business in the former British colony. In the growth years, that mattered less. Hundreds of technical schools opened overnight, producing graduates who were snapped up and then trained on the job. But as the economy slows, employers are getting pickier. Experts said India must improve the quality of courses and teachers. It must also overcome a culture that values conventional education more than job-oriented vocational training. The government is responding with an ambitious plan that aims to arm 500 million youth with employable skills by 2022. This includes building more skills training centres, developing curricula and training teachers. Such is the talent crunch that some of India's famed information technology firms now fund skills development programmes in engineering schools. "Of half a million engineers graduating every year, not more than a quarter are employable," said Mr Vinay Shirsat, founder of hiring firm Vindsor. - See more at: http://www.stasiareport.com/the-big-story/...h.GVE7Yl0b.dpuf

The Kia GT concept was one of the highlights at the Frankfurt Motor Show and a new report is indicating it is headed for production. Speaking with AutoCar, Kia's European CEO Paul Philpott explained "The first step is to have the kind of mainstream cars that can compete with the likes of Ford and Citro

Check it out Yikes! Go left go right?

This in Mini-tx's dream come true

any forex followers here? love to hear your views wrt S$. will it keep going down?

http://www.themalaysianinsider.com/index.p...seized-at-johor

Volkswagen AG officially announced that the Microbus will be put into production with a targeted release in 2005. Dr. Bernd Pischetsrieder, Chairman of the Board of Management Volkswagen AG, said: "Having reviewed the economic requirements for building the Microbus in the Group, we have come to the conclusion that, based on the 5000 x 5000 project and a thorough restructuring of the Hanover site, the conditions are good." The 5000 x 5000 project refers to a unique plan whereby Volkswagen will employ 5,000 people for a gross wage of DM 5,000. Volkswagen claims it has its sites set on a new segment - "a MPV combining striking design and high functionality with the comfort of a limousine. Dr. Pischetsrieder emphasized that "with the Microbus, a legend begun some 50 years ago when the first VW bus left the production line here is now returning to Hanover. The VW bus was never just a means of transport, it has always been an emotive cult object. The public's reaction at motor shows combined with the findings of market studies already show us that the Microbus design has a spontaneous appeal, and that the vehicle will follow in the footsteps of its successful predecessor." This announcement ends months of speculation surrounding the actual decision to build the Microbus. Dr. Pischetsrieder was reportedly a Microbus supporter but platform considerations made it difficult to move forward. In the U.S. market the Minivan segment is largely dominated by car-based platform minivans, whereas building the Microbus in Hanover dictates using a truck platform. Indeed it will be interesting to see how Volkswagen manages to remove the truck-like character of the T5 commercial platform the Microbus will be built on along with the higher costs of building the vehicle in Hanover versus other locations. Volkswagen is shooting for a 2005 model year introduction of the Microbus and expects to sell approximately 100,000 units per year, largely in the U.S. market.