India’s leading companies, including Tata, Reliance, Birla, Adani, Infosys, Microsoft and IBM, are set to participate in a government-backed internship programme aimed at boosting youth employment.

The programme announced in Union Budget 2024 seeks to provide 1 crore jobs in the country’s 500 top private companies in the next five years.

The government will launch a dedicated website on October 13 where candidates can apply for internships. Companies will begin announcing their vacancies starting October 3.

The programme, designed to bridge the skills gap and align education with industry needs, offers several benefits to both interns and participating companies.

Interns will receive a stipend of ₹5,000 per month, split between corporate CSR funds and government contributions. Additionally, the government will provide a one-time payment of ₹6,000 to each intern.

The programme requires that internships be skill-based and avoid menial tasks. Companies can also offer internships across their supply chain and group companies.

The internship portal, a one-stop solution for candidates and corporations, will streamline the application and matching process.

Candidates can fill out a simple form indicating their skills and interests, and the portal will automatically generate CVs and match them with suitable roles.

The Confederation of Indian Industry (CII) is working closely with the Ministry of Corporate Affairs (MCA) to facilitate the implementation of the Prime Minister’s Internship Scheme.

The MCA has launched a user-centric portal for the scheme, providing a centralized hub for companies and interns to interact and participate in the programme.

“With industries grappling with a growing talent shortage, the PM Internship Scheme provides a crucial bridge,” said Chandrajit Banerjee, director-general of the CII.

“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.”

“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,” Sanjiv Puri, president, CII, and chairman and managing director, ITC Limited, said.

“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,” Aditya Ghosh, chairman of CII National Committee on Skill Development, co-founder, Akasa Air and founder — Homage, said.