The first phase of the Prime Minister’s Internship Scheme has witnessed more than 1,55,000 registrations from interested candidates. This is an overwhelming response that goes far beyond expectations. The Indian government was hoping to select one lakh candidates for internships by the end of 2024. Over 80,000 internships are already on offer from about 200 companies across various sectors, such as banking, manufacturing, energy, automotives, defence, aviation, oil and gas, travel and hospitality, and financial services, infrastructure and construction.
Under this scheme, 500 top-ranked companies have come forward to offer year-long internships to 10 million Indian youth, over a period of five years. Some of the companies that have offered internships so far are, Mahindra & Mahindra, Bajaj Finance, Jubilant Foodworks, Muthoot Finance, Eicher Motor, Larsen & Toubro and Tech Mahindra.
These 500 partner firms are listed on the website of the Ministry of Corporate Affairs, which is responsible for the execution of the scheme.
Under the scheme, the young interns in the age range of 21-24 will get the opportunity to master skills and gain work experience. They will also earn Rs 4500 a month (Rs 4000 from the Government of India and Rs 500 from the company) along with Rs 6,000 as a one-time support payment. That is not all; they are also eligible for insurance cover under the Pradhan Mantri Jeevan Jyoti Bima Yojana and Pradhan Mantri Suraksha Bima Yojana
