Sanjay Saigal, writing on James Fallow's blog today, discusses the dearth of qualified managers in India, and the failure of MBA programs to keep up with demand:
Consider, for instance, the following data from a report published last year by an Indian employment company, MeritTrac:
- Recognized MBA programs produce around 70,000 graduates each year.
- Approximately 20,000 of them may be considered "employable".
- The annual demand for MBAs is estimated to be 128,000.
To echo Woody Allen in Annie Hall, the food is terrible, and such small portions!
The deficit in 2009, the baseline year of MertTrac's study, was over 100,000 MBAs. Over the least 10 years, the Indian economy has growing at an average annual rate of 7.6%. The number of recognized MBA programs has been increasing, but the number of employable MBA graduates has not, bottlenecked by a shortage of trained faculty. Every year, the Indian industry finds itself in a deeper hole.
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Duke's Executive MBA programs—especially the CCMBA—address all of his concerns except for one: cost.
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Saigal points to a tremendous opportunity for good schools to provide deep management education to some of the billion Indians who'll make up the workforce there in 10 years.