Mumbai : Several major Indian conglomerates, including Adani Group, Mahindra, ITC, and Reliance Retail, have signed up for the recently launched PM Internship Scheme, aimed at boosting youth employment. Launched on October 3, the scheme offers internship opportunities in fields such as sales, marketing, entrepreneurship, and agriculture-focused roles.
The initiative seeks to partner with the private sector to generate employment, with top firms like TCS, PepsiCo, Deloitte, and HDFC participating. According to the Ministry of Corporate Affairs (MCA), eligible candidates must be aged 21-24, have completed at least Class 10, be unemployed, and have an annual household income of less than ₹8 lakh. Post-graduates are excluded from the program.
Under the scheme, up to 1 crore interns will receive a monthly stipend of ₹5,000 for a year, with placements in the top 500 companies identified based on their Corporate Social Responsibility (CSR) expenditure over the last three years. Over 2,200 internship positions have already been listed on the MCA portal.
The Mahindra Group plans to hire 2,100 interns across its automotive, farm equipment, and financial sectors. However, concerns have been raised over the stipend, with a senior executive calling for an increase to better support and incentivize applicants. Given the involvement of large corporations, it is hoped that companies may eventually raise the stipend themselves.
This initiative is a significant step in addressing youth unemployment and creating valuable skill-building opportunities across India.