The recent rollout of the PM Internship Scheme by the Central government signals a significant commitment to bridging the gap between education and employability for millions of young Indians. With the scheme’s goal of providing financial assistance of ?60,000 per annum to one crore youth over the next five years, it is set to empower a new generation with real-world skills that can transform their career trajectories.
What stands out in this initiative is its focus on inclusivity, targeting youth from households earning under ?8 lakh annually. This approach ensures that opportunities are extended to those who often face barriers to quality education and professional development. The provision of a ?5,000 monthly stipend will help alleviate the financial pressures on families, enabling young people to focus on gaining valuable experience instead of worrying about economic hardship.
Moreover, the fact that the scheme involves India's top 500 companies, such as Alembic Pharmaceuticals and Mahindra & Mahindra, adds credibility and substance to the internships. The selection of companies based on their Corporate Social Responsibility (CSR) obligations ensures that not only are the interns gaining exposure to top-tier corporations, but the companies themselves are genuinely invested in fostering skills among young people. This alignment between government and corporate objectives enhances the potential for meaningful, productive internships.
A pilot project with a budget of ?800 crore for 2024-25, aimed at providing internships to 1.25 lakh youth, offers a pragmatic, scaled approach to testing the scheme’s effectiveness. By utilizing a portal for seamless application and selection, the government is embracing digital infrastructure, reducing administrative delays, and improving access for candidates from various regions.
The initiative’s cross-sectoral approach—spanning industries such as IT, banking, healthcare, and agriculture—broadens the horizon for young Indians. With internships being offered in key sectors of the economy, participants will not only gain hands-on experience but also exposure to diverse fields. Whether in emerging technologies like software development or traditional industries like manufacturing and agriculture, the opportunity to work with leading companies is invaluable.
While the programme does not guarantee a job upon completion, the real benefit lies in the skills and networks these young interns will acquire. In a job market where practical experience is increasingly favoured over theoretical knowledge, the internships offer participants a competitive edge. The professional networks they build, along with the knowledge gained, will likely open doors to future opportunities, whether in the same company or elsewhere.