New Delhi [India], December 4 : The Prime Minister's Internship Scheme (PMIS), announced in the Budget 2024-25, targets the creation of one crore internship opportunities within the next five years.
According to the Ministry of Corporate Affairs, these internships will be offered in India's top 500 companies, identified based on their Corporate Social Responsibility (CSR) expenditure over the last three years.
As a precursor to the full-scale implementation, a Pilot Project under the PMIS has been launched, offering 1.25 lakh internship opportunities for the financial year 2024-25. This scheme is being executed through a dedicated online portal, pminternship.mca.gov.in, which facilitates the entire process, from application to selection.
As of now, companies have posted 1.27 lakh internship opportunities on the portal, attracting over 6.21 lakh applications from aspiring youth. The selection process is currently underway, ensuring a competitive and merit-based allocation.
While the initial focus is on the top 500 companies, the scheme allows participation from other companies, banks, and financial institutions, subject to approval by the Ministry of Corporate Affairs (MCA). This approach ensures inclusivity, particularly for underrepresented sectors and regions.
The PMIS aims to address the critical gap between academic learning and industry requirements. Interns will have the opportunity to gain practical training, hands-on experience, and industry-specific skills, enhancing their employability in a competitive job market.
Speaking about the scheme, Harsh Malhotra, Minister of State for Corporate Affairs and Road Transport and Highways, highlighted its transformative potential in a written reply in Rajya Sabha on Tuesday.