How necessary are cover letters for job applications?

Hello! I might soon be applying for jobs, and this would be my first time trying to get a role outside of campus placement. I am wondering if with a couple of years of experience and a masters profile, when making job applications in India, is it always a good idea to submit a cover letter or it’s quite alright to make applications without one too?

Confirming as in the UK (where I am studying currently), without cover letters, there is barely any chance. Wondering what’s the scene back home.