Corporate India's Bold Support for the PM Internship Scheme 2024

Over 81% of Indian companies back the PM Internship Scheme 2024, aligning their CSR initiatives to support it. The scheme aims to provide internship opportunities to one crore youth over five years, with firms using CSR funds. Over 76% of internships focus on tech roles, addressing skill gaps.

In a show of overwhelming support, more than 81% of companies in India have rallied behind the Prime Minister's Internship Scheme 2024. The initiative, introduced in the Union Budget 2024-25, mandates the country's top 500 companies to create internship opportunities for one crore youth over five years.

Under the scheme, each intern is set to receive a monthly stipend of Rs 5,000, and companies are encouraged to use their corporate social responsibility (CSR) resources to partially cover these costs. A recent report by TeamLease EdTech underscores the growing momentum, suggesting the scheme's expansion to include all corporates.

The report also highlighted significant trends: 76% of companies favor tech roles in internships, while 73% intend to hire up to 10% of interns as full-time employees. This approach creates a robust response to tech talent shortages while reinforcing corporate commitments to sustainable employability strategies.

(With inputs from agencies.)