Er, maybe.  First off, there is always the catch-22 that most companies want to hire developers with experience, but you can't get experience unless someone hires you (or you do work for yourself).  Secondly, the job market varies so much from place to place that what is true in California wouldn't necessarily be true in Chennai.  An important part of the job search is not only your degrees and certifications, although those may get you through the door and into an interview...you have to be able to interview well, express yourself confidently, and show expertise if/when a potential employer gives you a problem to solve.  It's always hard starting out, but keep your skills sharp and it will come.  If nothing else, do some work with Java on your own while you are looking so you can stay sharp and not have to explain to an interviewer why you spent a few months sitting on the couch playing Call of Duty.