CII Collaborates with Ministry of Corporate Affairs to Roll out the PM Internship Scheme
The Confederation of Indian Industry (CII) is working closely with the Ministry of Corporate Affairs (MCA), Govt. of India, to facilitate the implementation of the Prime Minister’s Internship Scheme. This initiative, launched as part of the Union Budget 2024, aims to provide internship opportunities to one crore youth in 500 top CSR spend companies in the next 5 years. CII is acting as a critical facilitator between the Government and the Industry, ensuring the scheme's effective rollout.
Recognizing the severe talent crunch, CII has been advocating the need for greater Industry participation in skilling the youth of the country. The PM Internship Scheme will enhance youth employability in India by offering them hands-on exposure to real-world business environments. The scheme will also benefit the Industry by creating a pipeline of skilled, work-ready youth who can be employed post-internship both in large as well as micro, small and medium enterprise.
As a key enabler, CII has been working closely with each of the companies to develop an action plan for their participation in the internship scheme. In this regard, CII has already conducted Industry Interactions with the MCA in New Delhi, Mumbai and virtually across the country.
The MCA has also launched a dedicated, user-centric portal for the scheme, which will serve as a centralised hub and a link between the companies and the aspiring interns, allowing smooth navigation of the scheme's application and participation processes. CII has been actively working with the technical team on the portal’s key functionalities.
The PM Internship Scheme arrives at a crucial time when the industry is facing a significant skill shortage. By providing on-the-job training to youth, the scheme offers companies an opportunity to tap into a well-prepared workforce. Additionally, through the involvement of large companies, the initiative is set to benefit the entire value chain, including MSMEs.
For young individuals entering the workforce, the scheme will offer key exposure to Industry practices, enabling them to acquire the skills necessary for future success. The incentive support to the candidates will also ensure that these opportunities are available to a diverse range of candidates.
“With industries grappling with a growing talent shortage, the PM Internship Scheme provides a crucial bridge. By offering on-the-job training to youth, it will prepare them to meet the evolving Industry demands, while ensuring that businesses get access to a skilled and agile future workforce, fostering progress and innovation,” said Mr Chandrajit Banerjee, Director General, CII.?
"The Prime Minister’s Internship Scheme is a visionary initiative that will contribute significantly to India's goal of Viksit Bharat by 2047. With internships for one crore youth across sectors including Manufacturing and services, this scheme will cultivate a skilled workforce ready to take on future challenges" stated Mr Sanjiv Puri, President, CII and Chairman & Managing Director, ITC Limited.
“The scheme is set to transform the skilling and employment landscape in India. It will provide youth, particularly those from marginalized socio-economic backgrounds, with a unique opportunity to gain practical experience, improve employability, and, most importantly, align their learning with the needs of the industry. By fostering inclusion, this initiative will be a catalyst for growth, both for individuals and for the economy.” said Mr. Aditya Ghosh, Chairman of CII National Committee on Skill Development, Co-Founder, Akasa Air and Founder - Homage?.
The Prime Minister’s Internship Scheme represents a transformative opportunity to bridge the skills gap and drive sustainable growth in India. By aligning education with practical Industry experience, this initiative is set to empower a generation of skilled professionals and foster long-term economic development.
1 October 2024
New Delhi