Government Expands Corporate Participation in PM Internship Scheme

The government is actively working to increase corporate involvement in the Prime Minister’s Internship Scheme, aiming to provide applicants with a wider array of opportunities while enabling businesses to play a more significant role, a Ministry of Finance official shared.

Initially focused on the top 500 companies, the government now plans to include an additional 500 firms to better align the demand and supply of quality internship opportunities, according to sources quoted by Business Today.

In a recent post on X, the Ministry of Corporate Affairs (MCA) announced, “On Day One of the PM Internship Scheme pilot project, our first cohort of interns from 625 districts began their internships across 35 states/UTs, covering the length and breadth of the country.”

On day one of the PM Internship Scheme- Pilot project, our first cohort of interns from 625 districts have begun their internships across 34 States/ UTs across the length and breadth of the country!

It is a significant step in what promises to be a transformative journey.

All… pic.twitter.com/bxZQxWmgJS

— Ministry of Corporate Affairs (@MCA21India) December 2, 2024

The scheme has garnered immense interest, with nearly 20 lakh registrations so far. Out of these, approximately 15 lakh candidates completed their Aadhaar-based registration, although only 30% have been deemed genuine applicants.

Official Launch and Growing Momentum

The internship program was officially launched on December 2, 2024. However, the Prime Minister’s formal inauguration was postponed due to scheduling conflicts and is expected to take place in early January 2025 as applications steadily rise.

While most interns joined their respective companies on December 2, some faced delays due to logistical or personal challenges, as noted by a government official.

About the Prime Minister Internship Scheme

Introduced on October 3, 2024, by Finance Minister Nirmala Sitharaman, the PM Internship Scheme aims to provide internships in India’s top 500 companies, with a vision to create 1 crore internship opportunities over five years.

This scheme is distinct from other training programs, apprenticeships, or skill development initiatives in India. By focusing exclusively on internships, it offers a tailored experience designed to boost employability and provide young participants with practical exposure to the working world.

Prominent companies participating in the scheme include Eicher Motors, Bajaj Finance, Tech Mahindra, Alembic Pharmaceuticals, Max Life Insurance, Larsen & Toubro, and Mahindra & Mahindra. Importantly, there is no application fee; the process is entirely free.

Benefits and Sectors of the PM Internship Scheme

The Prime Minister Internship Scheme offers several benefits to its participants. Interns receive a monthly stipend of ₹5,000, along with a one-time payment of ₹6,000. The program provides an opportunity for young individuals to gain valuable real-world work experience. Additionally, all interns are insured under the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana, ensuring financial security and coverage.

The scheme spans a wide range of sectors, offering diverse internship opportunities. Eligible candidates can explore roles in fields such as IT and Software Development, Banking and Financial Services, Oil, Gas & Energy, Metals & Mining, FMCG, Telecom, Infrastructure & Construction, and Retail & Consumer Durables. Other prominent sectors include Cement & Building Materials, Automotive, Pharmaceuticals, Aviation & Defence, Manufacturing & Industrial, Chemicals, Media, Entertainment & Education, Agriculture and Allied Sectors, Consulting Services, Textile Manufacturing, Gems and Jewellery, Travel & Hospitality, and Healthcare.

This diverse sectoral coverage ensures that participants have the chance to develop skills and expertise in industries of their choice, making the scheme a gateway to meaningful career opportunities.

Conclusion

The Prime Minister’s Internship Scheme is a transformative initiative aimed at equipping India’s youth with the skills and experience they need to excel in the modern workforce. By expanding corporate participation and simplifying the application process, the scheme bridges the gap between aspiring professionals and leading companies.

With the backing of prominent organizations and the government’s ambitious vision, this program is set to empower millions of students, enabling them to explore meaningful career opportunities while contributing to India’s economic growth. If you’re looking to kickstart your professional journey, now is the perfect time to explore the PM Internship Scheme and take the first step toward building a successful career.

Refrences:

1. Business Today
2. Registrationwala