Well I do not know about India. But my experience in the Netherlands is that employer value experience more. If the situation is comparable, I would say go and do volantary work instead of more knowlegde. I've done that too when I left tec college in 1993. Those were bad times, 1993, 1994.
About whether to apply for that job, that really depends on the market. I it was a year ago before the financial crisis, and if it was in the Netherlands, I would say you would have a good chance going for that job. But nowadays, and I don't know about the job market in India either.
But in summary, you can better improve your resume now by doing some real project.
And if needed volantary or start something yourself, may-be your
relatives have a little business where they need some software?
And if you have trouble finding a job, do not loose hope. Even after you have been unemployed for a year or even two years. Information Technology is a job market that is double dependant of the economic trend. In 1993 I thought of changing my carreer. In 1996 I got a pay-raise for nothing, because the IT job climate changed dramaticly and my employer had to keep up with the market, and keep his young staff hired in 1994.
Does that cheer you up a little mate?
Now go for it.
[ October 10, 2008: Message edited by: Marcel Wentink ]