The Indian government, in collaboration with India Inc, is set to launch a dedicated internship portal on October 3. It is a part of the Prime Minister’s Employment and Skilling Package announced in the Union Budget.
The initiative is designed to offer year-long internships to 1 crore (10 million) youth, aged 21-24, over the next five years. The portal will begin by allowing India’s top 500 companies to post internship opportunities, with applications opening to candidates on October 12.
The initiative is aimed at youth with lower employability and ensures that a diverse range of candidates can benefit from skill development opportunities.
Key Features of the Internship Scheme
- The scheme targets candidates between 21 and 24 years of age who have completed at least a Class 10 education and are not currently engaged in full-time employment.
- Excludes individuals with higher professional qualifications from premier institutes like IITs, IIMs, IISERs, or those holding degrees such as Chartered Accountant (CA) or Cost Accountant (CMA).
- Candidates from families with government jobs or an annual income exceeding Rs 8 lakh will not be eligible to apply.
- The internships will focus on providing practical, hands-on experience in the workplace, with at least 50% of the training to take place in a real-world environment. Companies will not be obligated to offer permanent positions after the internship, but they may do so at their discretion.
- After completion, interns will receive certification, enhancing their employability.
Eligibility
- Register on the portal
- Complete an Aadhaar-based e-KYC process
- Submit a self-declaration of their eligibility
Selection Process
- The selection process will be automated, with the system shortlisting twice the number of candidates for each available position based on profiles, preferences, and eligibility.
- Participating companies will then review the shortlisted candidates and send offer letters to those selected.
- A panel of government officials and industry representatives will oversee the selection process to ensure fairness.
- Corporate participation is voluntary, with eligibility based on companies’ average Corporate Social Responsibility (CSR) spending over the past three years. Selected companies can also collaborate with others in their supply chain to host interns.
Stipend
The government will provide a monthly stipend of Rs 4,500 through Direct Benefit Transfer (DBT), with an additional Rs 500 to be covered by the company’s CSR funds.
The companies are required to offer a minimum stipend. They also have the option to pay more if they wish. However, any excess payment will not be counted toward CSR obligations. In addition, companies are expected to allocate Rs 6,000 annually to cover incidental expenses incurred by interns.
Two-Phase Program
The internship program will be implemented in two phases:
The first Phase: Targeting the skilling of 30 lakh youth over two years.
The second phase: will aim to train 70 lakh more over the next three years.
This gradual rollout will allow companies and the government to manage the large volume of candidates and ensure the quality of the internships.
Internship Scheme Crucial For Building Skilled Workforce
The Ministry of Corporate Affairs, in partnership with the Confederation of Indian Industry (CII), has played a key role in developing the scheme. The CII has been actively engaging with companies across India to facilitate their participation in this ambitious project, aimed at enhancing youth employability.
The internship scheme comes at a crucial time, addressing India’s talent shortage and helping industries prepare for the future. By focusing on sectors like manufacturing and services, the initiative aims to create a pipeline of skilled, work-ready youth who can contribute to the country’s economic growth. The program is expected to be a stepping stone towards building a skilled workforce aligned with India’s vision of becoming a developed nation by 2047.
Sanjiv Puri, President of CII and Chairman of ITC Limited, stated that the scheme is a “visionary initiative that will contribute significantly to India’s goal of ‘Viksit Bharat’ by 2047.”
Chandrajit Banerjee, Director General of CII, also emphasized the scheme’s potential to bridge the talent gap and ensure that industries get access to a skilled and agile workforce.
As companies prepare to post their openings on October 3, this initiative could support millions of young Indians seeking to enter the workforce.
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