A mere 7% of the graduates from business schools in India, with the exception of those from Indian Institutes of Management and a few others, are employable, a study conducted by the Associated Chambers of Commerce and Industry of India has found. Most graduates from Indian business schools are sub-par and “unemployable”, and earn less than Rs 10,000 a month if they do find placements, according to the study.

Campus recruitment has seen a 45% drop since 2014, owing to low-quality education and the economic slowdown. Moreover, the number of seats available at business schools is far higher than the number of takers. From 3,60,000 seats in 2011-12, the figure jumped to 5,20,000 seats for MBA courses in 2015-16. The study attributes low-paying jobs through campus placements, poor faculty and lack of quality control, and infrastructure as the primary reasons behind the deteriorating quality of Indian B-schools, PTI reported.

There are at least 5,500 B-schools in operation in India, many of which are not properly regulated. Including unapproved institutes to the list could result in a higher figure. In the last two years, some 220 such colleges were shut down in Delhi-NCR, Mumbai, Kolkata, Bangalore, Ahmedabad, Lucknow, Hyderabad and Dehradun, among others, and at least 120 more are expected to be closed this year, according to the ASSOCHAM study.