The report released stats that, more that 81% of the India Inc supports the PM’s Internship scheme 2024. This encourages the corporations to integrate their CSR initiative through their program.
The Internship Scheme which was brought in the Union Budget for 2024-25, requires the top 500 organizations to give internship opportunity to the one crore youth in the upcoming five years. Every youth working as the intern will be getting the stipend of Rs 5000. The organizations or the companies are permitted to use the CSR funds for giving stipend and the training expenses.
The reports is on the basis of insight of 932 companies. According to the reports, for maximizing the effect, 32.43% of the organizations or companies showed their preference for the collaboration with the universities and the corporates. This shows the role of partnership in filling the gap between the industry and institutions.
As per the report, majority of respondents (73%) believed that short-to medium term internship which is in between 1-6 months are good for balancing the skill development program effectively.
The reports mentions that, more than 54% of the companies or the organizations expect a measurable social return on Investment from this internship which is CSR focused in with in 1 to 2 years. Apart from this, more than 76% of the companies are focusing on tech roles in their internship programs. Showing the focus of industry on the digitally skilled people.
According to the report, around 73% of companies plans to take at least 10% of their interns into full time employees, once they complete their programme.
As quoted by Economic Times, TeamLease EdTech Founder and CEO Shantanu Rooj mentioned that, “The PM Internship Scheme showcases the impact of public-private partnerships in addressing workforce challenges. With the majority of companies focusing on tech roles and committing to meaningful absorption rates, we’re witnessing a strategic transformation that goes beyond traditional CSR. This initiative is effectively creating a sustainable talent pipeline while addressing India’s critical employability challenges.”
