PM Internship Scheme rolled out; to offer ₹5,000 monthly stipend

The government launched the Prime Minister's Internship Scheme on October 3 to boost skill development through a centralised online platform. It will allow partner companies to offer internships with a stipend of ₹5,000 per month to each intern. The initiative, announced in the 2024 Union Budget, aims to provide one crore internship opportunities to youth over the next five years by offering practical training in 500 of India’s leading companies, making them more employable. A key feature of the program is its inclusive nature, allowing students from all parts of the country to apply.

Officially launched on October 3, applications are set to open on October 13. Reportedly, around 1 lakh candidates are expected to enrol under the PM Internship scheme by December 2024.

Major corporate players such as Reliance, Adani Group, and Mahindra have already joined the initiative, highlighting robust industry support.

The Confederation of Indian Industry (CII) announced on Tuesday that CII has teamed up with the Ministry of Corporate Affairs (MCA) to facilitate the rollout of the Prime Minister’s Internship Scheme. The MCA has introduced a portal for the scheme, designed to connect companies with applicants and facilitate smooth navigation through the application and participation processes. The CII has been collaborating closely with the technical team to enhance the portal’s essential features.

Speaking on the significance of the Internship Scheme, Sanjiv Puri, president, CII and chairman & managing director, ITC Limited said, “The Prime Minister’s Internship Scheme is a visionary initiative that will contribute significantly to India's goal of Viksit Bharat by 2047. With internships for one crore youth across sectors including Manufacturing and services, this scheme will cultivate a skilled workforce ready to take on future challenges.”

CII also revealed that industry interactions with the MCA have already been conducted in New Delhi, Mumbai and virtually across the country. The scheme is expected to address the current skill gap in the industry, providing companies with a pipeline of well-trained youth. Large companies' involvement will extend benefits across the value chain, including MSMEs, by fostering a skilled workforce. “The scheme will also benefit the Industry by creating a pipeline of skilled, work-ready youth who can be employed post-internship both in large as well as micro, small and medium enterprise.” 

“The scheme is set to transform the skilling and employment landscape in India. It will provide youth, particularly those from marginalised socio-economic backgrounds, with a unique opportunity to gain practical experience, improve employability, and, most importantly, align their learning with the needs of the industry. By fostering inclusion, this initiative will be a catalyst for growth, both for individuals and for the economy,” said Aditya Ghosh, chairman of CII National Committee on Skill Development, co-founder of Akasa Air, and founder of Homage.