Developing Different Asset Classes for Startup Financing Other Than Venture Capital

Developing Different Asset Classes for Startup Financing Other Than Venture Capital

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

Venture Capitalism has become a major necessity for startups, with it being the only source that allows a startup to transition from and to different stages of its life. However, there are certain restrictions that come hand in hand with its vitality. Venture capitalism involves professionally managed funds offering startups funds for equity. They usually exit when an IPO happens or upon an acquisition. The VCs, at times, force startups to take directions that the original entrepreneurs may not have wanted. Moreover, the endeavour of getting the VC’s attention and confidence is a momentous task in itself. Therefore, it becomes crucial to develop different asset classes to allow for a greater spectrum of options for nascent start-ups.

There is a spectrum of alternative options, that involves either conventional sources of asset classes and potential sources of funds.

Bootstrapping: This process involves an entrepreneur using his own finances to facilitate the initial working of his startup. In order to bootstrap effectively, entrepreneurs need to refine their operations so as to be very cost efficient so they can utilise their revenue growth to fuel future investments as well.

Crowd funding: Crowd funding involves a business putting its idea on a platform where different individuals pledge different amounts to the success of the project. However, crowd funding is highly competitive and the business idea must be fully formed and tested. Crowd funding serves a dual purpose as marketing as well as financing. Crowd Funding platforms are relatively new with their development in their nascent stages in countries like India. To make these avenues feasible, there is a need to create awareness among people.

Angel investors : Angel investors are individuals who provide a one-time boost in the form of funding to a startup. They are usually either family members or friends of the individual. Angel investors are simply informal investors that are more fixated on the growth of the startup as opposed to immediate profit needs. Unlike venture capitalists, angel investors usually invest their own money. Therefore, there is greater likelihood of the goals of the investors and the startup being in tandem.

Private lending: Borrowing money from either conventional banks or specially-designed financial institutions that fund small and medium businesses is also an alternative. These loans however increase the firm’s financial risk which restrict a company’s ability to scale or take operational risks. However, loans do come at a benefit of having no dilution of ownership.

This particular alternative needs a lot more refinement and development in reality. Banks often do not have confidence in new startups or lend to them at predatory rates. This, more often than not, leads to a startup’s demise. However, this opens a window of opportunity for us to come up with a different metric for assessing if a startup inspires confidence or not. This new threshold can help actualise this alternative. The right trend can be seen when we see the arrival of institutions specifically designed to encourage startups.

The above are asset classes designed specifically for startups to help facilitate their growth. However we can look at this issue in another way as well.

The conventional class of financial assets namely equities, bonds, real estate, etc. are options that accommodate startups. Upon understanding the constraints that lie in this access, we can better develop these options as possible alternatives as well.

Startups are relatively unknown and often operate under tight liquidity positions. This means that they find it difficult to raise capital from the market. Also, the entire procedure of getting listed and the formalities also eliminate these options.

There are a few possible avenues to eliminate these constraints:

Convertible Bonds: Convertible bonds start as normal bonds with a given interest rate. However, after some time investors have the avenue to covert them onto a profit-sharing instrument. Startups have trouble getting credit due to their lack of credit history. However, when they try to raise money by equity they face several problems regarding valuation. This allows startups to co-opt the best of both these choices by giving lenders the avenue to convert their debt into equity after a certain time. This acts as an additional re-assurance and is cheaper than raising money from equity.

Startup Stock Market: There has been the starting of a new era of startups globally with the arrival of platforms designed specifically to trade share-equivalents of startups. This model is still in its nascent stages as seen in the startup stock exchange; however, if developed this gives startups access to equity.

Therefore, there are several avenues available to startups other than venture capitalism whether conventional avenues like bootstrapping or new innovations like convertible bonds. Eventually, a startup can also refine its own functioning to generate funds by having pre-order option for products, etc. Every aspect of the startup is capable of being a potential source of financing.

© MultiSpectra Consultants, 2020.

Targeted Interventions: How Modern Day Firms Are Increasing ‘Business Impact’

Targeted Interventions: How Modern Day Firms Are Increasing ‘Business Impact’

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

Corporate Training and Learning Development programmes have primarily focused on broader training gaps in the past without the ability to ‘Penetrate’ and reach the core issue that needs attention.

Why cannot Training be precisely attuned to the need that an organisation has? Why is it that we see blanket Training Interventions that add very little value to solving the core problem that the organisation has? Organisations continue to ‘Carpet Bombard’ a group of like roles and expect results whereas the need is to be targeted with a ‘Surgeons’ Knife Precision’ approach in identifying the areas that need urgent attention.

There is an unmet need when assessing what Training Intervention needs to be prioritised first and where the likely Business Impact that will yield maximum ROI is.

Most of the Training Interventions attract diverse audiences, but the best training interventions ‘Target’ a specific need that is specific to an organisation at a given point in time. Finding the right Targeted Training Need(s) and further customising the Training Interventions such that specific levers are leveraged is a challenge that every organisation grapples with.

Successful organisations in the new age have found the solution to the talent war: a highly ‘Customised and Targeted’ learning environment. The operative keyword being ‘Targeted.'

Successful organisations demonstrate the ability to create an ecosystem for learning and development that supports individualised training needs.

Targeted Training Interventions demand the use of established methods in identifying the training gaps, often going to the level of most basic building blocks. A Targeted Training intervention weaves the ingredients of Technology, Business Strategies and Learning Objectives to create something that is highly tailored and effective in a real-world scenario.

The Design and Development process of a Targeted Training intervention requires a very meticulous understanding of the underlying business model, the services / products being delivered and the nuances of integrating PEOPLE, PROCESS and TECHNOLOGY.

SOMM (Stuvoy Organisational Maturity Model) is one such Framework and a Roadmap Model that makes possible the measurement of the maturity of PEOPLE, PROCESSES and TECHNOLOGY. The term maturity in SOMM refers to the organisation's readiness and experience about the three core pillars: Human Capital (PEOPLE), PROCESSES and TECHNOLOGY.

With the availability of established frameworks and models such as SOMM, getting the right identification of a Training Intervention is a ‘Breeze’ for any organisation. With SOMM, organisations can look forward to impacting ‘Targeted’ business areas that have been a pain and have prevented the organisations from improving their Productivity, Quality, Reducing the Costs to market and an overall higher Retention of the client via higher satisfaction across services and products offered.

With Targeted investments in improving People, Processes and Technology, organisations are continuously and successfully sharpening the competitive ‘axe’ required to survive and thrive in the modern-day competitive world.

© MultiSpectra Consultants, 2020.

How Startups Can Protect their Intellectual Property using their IPR

How Startups Can Protect their Intellectual Property using their IPR

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

It is an overwhelming process once you set out to start a new business. It may leave you in doubts, anxiety and a ton of other legitimate issues. One of the major areas that businesses need to stay aware about is Intellectual Property Rights. Once the fundamentals of deciding the right business structure are cleared, IPR helps to differentiate your business from those of your competitors. IPR yields you the following advantages

Can sell or licence for creating an additional revenue stream.

Offer distinctive products / services to your customers.

It can become an essential part of your marketing or branding (Exclusivity).

Intellectual properties are assets that you can use as security against loans.

Consider exploiting your IP to the fullest as it makes more sense to secure your business in the best possible manner. You can legally protect your Intellectual Property in the following manners:

Protecting Intellectual Property against any sort of infringement by others.

You can defend it in a court of law to claim your sole right on it.

Can legally stop others from using, making, selling or importing without your agreement.

You can earn royalties by licensing it or make money selling it.

Use your trademark for strategic alliances.

Essentially, there are three different ways through which a new business can secure its Intellectual Properties. This could be anything – a thought, an idea, an item, images, process, logos and so forth that represents a brand.

Here are the types of IPR that businesses can avail:

1. Copyrights

Certain protection is automatically granted to the author for their original, creative or intellectual work. Know more about copyright registration in India to ensure taking correct steps in the right direction.

Works include; Books, lectures, dramatic and musical works, cinematography, drawings, paintings, architecture, sculpture, photographs, illustrations, maps, plans, sketches, etc.

Rights: To distribute copies or phonorecords of the work to the public by sale or other transfer of ownership, or by rental, lease or lending and to perform the work publicly in person or through an audio transmission.

Validity: It is not mandatory to register but it is highly recommended. The validity of copyright lasts the lifetime of the author and even till the 60 years after his death. The owner is given protection in most countries.

2. Trademarks

Trademark: At first, register trademark online as this acts as a brand element distinguishing your goods and services from those of your competitors and other traders in the market. It creates a distinct identity for your company and thereby securing a brand from being counterfeited.

Marks: Word mark, a logo mark or a slogan, shapes, and unconventional marks like colours, sounds, gestures, animation, holograms, etc. can be registered under trademark.

Rights: Gives exclusive right to use the mark and prevent anyone from using it without permission. The owner also enjoys the right to licence, assign and sell the mark in return for compensation.

Validity: 10 years which can be made perpetual, as along as it is renewed every 10 years. Should be applied separately in every country in which protection is required and has a market in.

3. Patents

Patents come into play when you are looking to protect a new invention that is original and can be used to simplify the lives of people.

Condition: Patent requires an idea to be novel and unique. Industrial procedures can be patented especially if a non-obvious step is introduced in it.

Rights: It gives an exclusive authority over the patented invention, the right to exclude others and exploit the patent and earn from it.

Validity: Patent protection is a territorial right and therefore it is effective only within the territory of India (or the country where applied). Separate patents are required to be filed for each country where the protection is required. A patent is valid for a period of 20 years after which it goes into the public domain.

It is best to consider IP as something that offers an additional advantage that is beyond the concept of making money or even branding for that matter. It is something with which the business esteem is connected. Insuring the intellectual property is also a common norm since it is an asset. One of the quintessential business components is to have IP protection as a part of budgeting and business plan as well.

Startup Valuation can be made on the Basis of IP Rights

New companies do not have great stocks of products or workforce to begin with. Subsequently, a large portion of the estimation of a startup, for the most part, gets from their IP rights. It has been assessed that, normally, over 80% of the estimation of a new business depends on their IP portfolio.

No Over-Stretching the Finances

Unless your startup offers something that has zero creation costs, you will need to tighten the pocket heavily even to make start making profits. Another aspect that businesses do not consider is the cost associated with not taking proper care of their intellectual properties.

Impose Control on What You Have

Many businesses echo this - "we could not care less on the off chance that somebody duplicates us, it is simply free promoting!” and this gets me winced on many occasions.

Certainly, it is pleasant to have some other businesses advancing your administrations or merchandise for nothing. But then, what about the copy that does not match or justify the standards that you offer? Practically, you can do "nothing" in such an event and your brand may have to suffer an irreversible loss.

On one hand, the new business has a highly dynamic environment but the competition and technology are at peak. One has to remain on edge every time to protect your intellectual property from being used for other substandard products and services. Protecting your IPR is the best and the only way that helps you to create a sustainable and defensible differentiator in a highly competitive market.

© MultiSpectra Consultants, 2020.

Did Nagarjuna Write the Mahayana Kashyapa Parivarta Sutra or at Least a Part of It?

Did Nagarjuna Write the Mahayana Kashyapa Parivarta Sutra or at Least a Part of It?

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

Did Nagarjuna write the Mahayana Kashyapa Parivarta Sutra or at least a part of it?

It is known that all Mahayana Sutras have anonymous authors. The Mahayana Kashyapa Parivarta Sutra is one of the earliest Mahayana Sutras and some of its material meshes well with what Nagarjuna wrote. For example, Nagarjuna in his Mula Madhyamaka Karika, at one point refutes both Atman and Anatman. This is also found in the Mahayana Kashyapa Parivarta Sutra. This contradicts what Lord Buddha said because Lord Buddha denied Atman and preached Anatman.

It is not known which or who is earlier, the Mahayana Kashyapa Parivarta Sutra or Nagarjuna. If the Mahayana Kashyapa Parivarta Sutra is earlier, then there is a very strong chance that Nagarjuna read it and was strongly influenced by it. If, on the other hand, Nagarjuna was earlier, the possibility that Nagarjuna wrote the Mahayana Kashyapa Parivarta Sutra, or at least a part of it, cannot be discounted.

Certainly, Nagarjuna may have written one or more Mahayana Sutras in addition to the works attributed to him, for example, Mula Madhyamaka Karika, Vigrahavyavartani, Achintyastava and Lokatitastava, just to name a few. All four of the above writings of Nagarjuna are extanct in Sanskrit and Nagarjuna's exposition of the philosophy of emptiness can be clearly found in them. Nagarjuna also wrote works like Shunyatasaptati which are not available in Sanskrit. Nagarjuna refers to Lord Buddha's sermon to Kachchana in Chapter 15 of his Mula Madhyamaka Karika. It is well known that Nagarjuna was writing at a time when Mahayana Buddhism was evolving. Mahayana Sutras of that period tend to be hybrid texts, combining traditional Buddhist teachings with new innovative concepts.

However, while the emptiness portion of the Mahayana Kashyapa Parivarta Sutra fits in well with Mula Madhyamika Karika, the Bodhichitta mentioned in the Mahayana Kashyapa Parivarta Sutra does not. This makes one rethink the whole scenario and conclude that even if Nagarjuna had a hand in writing the Mahayana Kashyapa Parivarta Sutra, he probably wrote only a part of it. There is no evidence in any of the authored works of Nagarjuna that Nagarjuna ever changed his worldview significantly. Therefore, we have to compare any Mahayana Sutra which we suspect Nagarjuna with having written with Nagarjuna's authored works to arrive at some sort of opinion as to whether Nagarjuna had a hand in writing the Mahayana Sutra in question. For example, the Mahayana Shrimala Sutra is an early Mahayana Sutra and it is cited by the later Mahayana Lankavatara Sutra as well as by the Mahayana Sutralankara Bhashya. But the Mahayana Shrimala Sutra's concept of Tathagatagarbha does not conform at all with Nagarjuna's concept of lack of Swabhava, self-nature, in all things. Therefore, Nagarjuna may safely be passed over as the author or one of the authors of the Mahayana Shrimala Sutra.

What I have mentioned about Nagarjuna applies to Mahayana Buddhist scholars and saints in general. Besides their authored works, they may have written Mahayana Sutras. At this point of time, we have no way to tell.

The Mahayana Sutras themselves give us some clues as to their place of writing. The Mahayana Lankavatara Sutra and the Mahayana Gandavyuha Sutra point to the south as the place of writing while the Mahayana Amitabha-vyuha Sutra, which brought into existence Amitabha Buddha, was most probably composed in the north with considerable Zoroastrian influence because both the Zoroastrian god Ahura Mazda and Amitabha Buddha are associated with luminosity. In fact, the name Amitabha means 'Unbounded Light'. His other name is Amitayus meaning 'Unbounded Life'. The Mahayana Saddharma Pundarika Sutra, or Lotus Sutra, was certainly written later than the Mahayana Amitabha-vyuha Sutra because it already refers to Amitabha Buddha. Silk, which at that point of time could only have come from China, is mentioned in the Lotus Sutra and some other Mahayana Sutras as well indicating that the anonymous authors of these Mahayana Sutras lived in places where there was trade with China.

Nagarjuna's main claim to fame is his being the founder of the Madhyamika school of Mahayana Buddhism, a school which bifurcated into the Prasangika Madhyamika, typically represented by Buddhapalita and Chandrakirti, and Swatantrika Madhyamika, typically represented by Bhavaviveka, in later times.

© Bhattacharya International Buddhist Foundation, 2020.

Key Points in a New Constitution of India

Key Points in a New Constitution of India

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

In the Holy Name of Lord Buddha, BIBF, BASE, India, and BVC, hereby propose the following key points in a new Constitution of India.

1. Since India's 1950 Constitution was drafted under a colonial legacy and bears clear signs of colonial rule, a new Constitution of India has become necessary to make India conform to modern times.

2. Accordingly, a Presidential system of governance should be adopted with the President at national level and the Governors at state level being directly elected by the people.

3. The posts of Prime Minister and Chief Ministers should be abolished.

4. The civil services, being a legacy of colonial rule, should be abolished. It is noted that there are several government servants who have criminal records with the police and that there are several government servants who are bribe-takers.

5. Issues that are deemed to be of extreme national importance, should be decided on by the people themselves by means of Referendums with each such issue being placed before all Indians and each Indian having one radio-button ‘Yes’ / ‘No’ vote.

6. Other details may be filled-in revolving around the above key points. As far as is possible and is practicable, the Constitution of the United States of America should be followed. This will ensure that the governance system in India is 'of the people, for the people and by the people'.

© Bhattacharya International Buddhist Foundation, 2020.

What Constitutes Idolatry and What Does Not

What Constitutes Idolatry and What Does Not

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

Since I was born in an ultra-orthodox Buddhist family and Lord Buddha did not believe in gods, the issue of what constitutes idolatry was always very important to me from my childhood.

As a result, the definition of idolatry was taught to me at a very early age. I went to Don Bosco School, Park Circus, Kolkata, where I saw statues of Mary and a bust of Don Bosco. I also saw a number of pictures of Jesus Christ. Yet, the Christian priests who ran the school were Roman Catholics and owed allegiance to the Pope in Rome. It was at Don Bosco that I learnt that the Pope is to be addressed as Your Holiness and the Cardinals, who occupy, collectively, a position just below the Pope in the Roman Catholic hierarchy, are to be addressed as Your Eminence. But Christians are not idolaters and are opposed to idolatry.

Many Hindus live in Kolkata as well and they are indubitably idolaters. There is a Hindu slum just near my home and it is a hotbed of Hindu fanaticism, extremism and gangsterism. There are a number of Hindu temples in the slum and each also serves as a storehouse of weapons under the very noses of the police, most of whom are also Hindus. In fact, our home was subject to attack by Hindu gangsters because we are Buddhists.

Hindu extremism is by no means limited to Kolkata. Indian government forces battled Hindu guerillas in Assam starting in the late 1970s. The Hindu guerrillas fought under the banner of AASU and AGP. Partition in 1947 had left India with a 'chicken's neck' between Nepal and what is now Bangladesh and Assam is the largest Indian state to the east of the 'chicken's neck'. At its peak, Hindu terrorists gunned down Surendra Paul of the Apeejay Group. The Hindu guerrillas were motivated by real or perceived discrimination by the Indian government towards Assam. Caught in the crossfire between the Indian government forces and the Hindu guerrillas, millions of people were rendered homeless. The turmoil continued for a few years.

Eventually, Indian Prime Minister Rajiv Gandhi signed an agreement with the Hindu leaders spearheading the guerrilla warfare. This agreement was known as the Assam Accord. Amongst other things, Rajiv Gandhi conceded the demand of the Hindu guerrillas for the establishment of an IIT at Guwahati in Assam. Thus, IIT Guwahati became India's first 'political' IIT. This was the start of the dilution of the IIT brand, a process which is now complete with the conversion of University of Roorkee and ISM into IITs and the mushrooming of new IITs.

In the south also, a Hindu terrorist killed Rajiv Gandhi in 1991. The same Hindu terrorist group killed and caused mayhem in Sri Lanka extensively.

Coming back to the issue of idolatry, so long as a man keeps a statue or a picture of a real human being, whether deceased or living, in his home or anywhere else, he does not commit any idolatry whatsoever. For example, he may keep a statue of Lord Buddha, Jesus Christ, Mary, Asanga, or for that matter, Abraham Lincoln, in his home and most emphatically not be an idolater.

But if a man keeps and worships a statue or picture of a fictitious god or goddess, as all Hindus do, idolatry is committed. In this way, Hindus are guilty of idolatry.

© Bhattacharya International Buddhist Foundation, 2020.

Factors that are Hurting the Employability of Recent Engineering Graduates in India

Factors that are Hurting the Employability of Recent Engineering Graduates in India

Dr. Amartya Kumar Bhattacharya

BCE (Hons.) ( Jadavpur ), MTech ( Civil ) ( IIT Kharagpur ), PhD ( Civil ) ( IIT Kharagpur ), Cert.MTERM ( AIT Bangkok ), CEng(I), FIE, FACCE(I), FISH, FIWRS, FIPHE, FIAH, FAE, MIGS, MIGS – Kolkata Chapter, MIGS – Chennai Chapter, MISTE, MAHI, MISCA, MIAHS, MISTAM, MNSFMFP, MIIBE, MICI, MIEES, MCITP, MISRS, MISRMTT, MAGGS, MCSI, MIAENG, MMBSI, MBMSM

Chairman and Managing Director,

MultiSpectra Consultants,

23, Biplabi Ambika Chakraborty Sarani,

Kolkata – 700029, West Bengal, INDIA.

E-mail: dramartyakumar@gmail.com

Website: https://multispectraconsultants.com

My finding is that a lot of recent engineering graduates in India are unemployable. Why? Because they lack key skills.

To start with, when I was a student, there were only five Indian Institutes of Technology and only five engineering colleges in West Bengal. Getting admitted to an engineering course was very tough and very prestigious. I actually got a higher rank in the medical entrance examination than in the engineering entrance examination but naturally opted to study engineering because my dream was to study engineering, not to study medicine.

Nowadays, with the proliferation of engineering colleges, the standard of engineering graduates has declined. Basic problem-solving skills are lacking. In our times, the Internship was considered a necessary - and vital - part of education and getting a stipend for doing the Internship was unthinkable. I did not get any stipend for doing my Internship. Nowadays, students want stipends to do Internship although a company actually spends time and resources on Interns.

Supplementary education has become necessary for engineering students. Why? Because engineering curricula have become degraded in India. Take for example, a basic subject like Fluid Mechanics. By and large, this subject has remained unchanged over the past quarter century. Typically, simple problems are discussed and taught like the motion of a fluid between concentric cylinders. What will happen if the cylinders are not concentric is not discussed, not even qualitatively.

Now, such ideal cases are rarely to be met with in practice. In Fluvial Hydraulics, rivers, being formed by nature, do not have simple geometries. To model rivers mathematically, some sort of idealisation of the geometry is a must. These things are not taught to engineering students, again underlining the need for supplementary education for engineering students.

In practically every subject, idealised scenarios are taught to engineering students giving them no clue as to how more complex scenarios are to be handled in practice. All these hurt the employability of recent engineering graduates and also make supplementary education for engineering students a must.

© MultiSpectra Consultants, 2020.