Engineering technology is evolving rapidly in the Information Age, much faster than institutions of learning can upgrade their programs and syllabi. India has developed more engineering programs that dwell on mathematical analysis, theory and an understanding of the science rather than engineering technology programs which focus on application of science to solve real-world problems. Industries rely on innovation which is all about making incremental modifications to existing solutions with the intention of adding value or improving the efficiency. Thus there is a fundamental disconnect in the expectation of industry from graduating students and the focus of engineering programs. In this paper, we will consider the aspect of industry-readiness of graduating engineers, focusing on three areas of engineering, namely, electronics and communication engineering, Electrical Engineering, and computer science. The objective of the paper is to identify the gaps and suggest ways to fill this gap.