And I'm one of them! Studied Motorsport Engineering at uni and I was looking at taking the same path. All teams/companies told me the same thing... "If you don't know someone that's working here, chances are you'll find it really difficult to get work here". I didnt know anyone anywhere so I cut my losses, left uni and followed a different career path when the opportunity came up.
Sidhu88, all I can say is keep at it and best of luck. Don't get me wrong, some people have got in the industry. A mate of mine is a designer at Nissan, another works for Aston Martin, and one guy is part of the racing team that's developed/built the Juke-R, and also runs a car at the BTCC, WTCC and Le Mans. It's just the competition is crazy high at the moment, plus you have the economy where it is with companies looking to lower their expenses.
It'll be easier to get your foot in the door with a smaller/low key company and work your way from there. My mate from Nissan got with them through an apprenticeship when he finished his GCSE's, the one with Aston got a 1st at uni so went straight there, and the one in the racing team started off with a team that nobody had even heard of that ran a car in support races and worked his way up from there. I know one guy who works for Force India and used to be Adrian Sutil's electrical engineer, and is now Nico's. He started out by modifying American trucks!
My advice would be think outside the box. There's more than one way to get in the industry. The obvious way is the one that is nigh on impossible to get a job because almost everyone is trying the same path.
Best of luck though mate.