Higher Education and the Labor Market in India

As the knowledge has become a key factor in economic development, there is a change in the nature of work, shifting away from occupations rooted in industrial production to occupations associated with knowledge and information. This transformation has both increased and updated the skills required in economy. It is now increasingly felt that the jobs of the future would necessarily require some kind of higher education qualifications. Growing enrolments in higher education and rising rates of return on it in not only advanced countries but also many developing countries tend to make a case for expanding higher education to reach larger number of people across the world (World Bank 2001).