Yes, engineering has indeed lost its value over the years. Given that there are several engineering colleges in India and umpteen engineers are being produced each year from these colleges. However, the question is, if India needs so many engineers and if they are all good to be employed why they have trouble in getting jobs. These questions have automatically created negativity against engineering education in India.
Bangalore city alone has over 130 engineering colleges, but the employable engineering graduates are only 22% of engineering jobs (according to studies by MHRD a few years back).
Decreasing employer satisfaction with fresh engineering graduates. In fact, there are engineers we know are unemployed since last two years after the completion of their degree.
There was a surge in the year 2000 of pushing children into the field of medicine or engineering and this opportunity was milked by many institutions. Not only that they had bare minimum and subpar facilities, but their faculty was also the cheapest that they could get. Bonus – fees up to Rs. 10 lakhs for the low-quality education.
There are countries like the UK which is suffering a shortage of Engineers with specific skills. This is partially due to the fact that they fear that there are not enough engineers that possess satisfying soft skills like being able to manage a project, planning, communication, etc.
There is a rise in the number of private engineering colleges post the IT revolution thereby, producing more engineers than the demand. When supply exceeds demand, the value decreases automatically.