The Corporate Affairs Ministry has initiated the second phase of the PM Internship Scheme, engaging 220 additional companies.
This phase follows the success of the first phase, which saw 280 companies providing 127,000 internships, surpassing the initial target.
PM Internship Scheme: Overview Phase One & Phase Two
In the first phase, 280 out of the 500 selected companies, including major names like Reliance Industries and Tata Consultancy Services (TCS), collectively offered 127,000 internships.
This exceeded the initial target of 125,000 internships.
The selection of these companies was based on their corporate social responsibility (CSR) spending from 2020 to 2023.
The second phase involves 220 additional companies, such as Patanjali Ayurved, LIC Housing Finance, Malabar Gold, Welspun Living, Balrampur Chini Mills, JK Paper, HDFC Ergo General Insurance, Whirlpool, and SBI Funds Management.
These companies were initially on hold during the first phase and are now expected to create a significant number of internship opportunities.
The first phase received an overwhelming response with 620,000 applications.
Out of these, 85,000 internship offers were extended, and about half of them have been accepted.
As of December 2, 2023, 9,000 candidates have already started their internships, gaining hands-on experience at top companies.
Objectives and Impact
The PM Internship Scheme aims to develop the skills of young professionals and provide them with meaningful industry exposure.
The scheme involves more companies in the second phase. It seeks to bridge the skills gap and enhance employability among Indian youth.
The initiative underscores the government’s commitment to youth empowerment and workforce development through CSR resources and public-private collaboration.
The PM Internship Scheme expansion will open doors to countless career-building opportunities and cater to the nation’s growing demand for skilled professionals.
The success of the first phase has set a strong foundation for the second phase.
The government is inviting the remaining 220 companies from the original list of 500 to contribute to this pilot initiative.
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