The Union government’s v targeting the unemployed youth of the country is gaining traction among India Inc, which has posted 50,000 vacancies on the ministry of corporate affairs website. According to sources, the number of internship opportunities posted by the country’s top companies on the ministry of corporate affairs website has surged more than three times between October 7 and October 9.

The number of internship opportunities listed on the ministry of corporate affairs portal before it opens for applicants on October 12, has surged more than three-fold from around 16,000 to about 50,000 between October 7 and October 9, a source close to the development says. The portal was opened for companies to post internship opportunities on October 3.

The scheme for giving one year work exposure to the unemployed youth aged between 21 and 24 with a stipend of ₹5,000 was announced by finance minister Nirmala Sitharaman in the budget. The announcement envisages providing internships to one crore unemployed youth in the top 500 companies of the country in the next five years.

“Internship opportunities have been posted by more than 130 companies, including major private sector players such as Jubilant Foodworks, Eicher Motor Ltd, Larsen & Toubro Ltd, Tech Mahindra, Mahindra & Mahindra Ltd, Bajaj Finance, and Muthoot Finance, among others,” the source pointed out.

“Internship opportunities are spread across 22 sectors, out of which oil, gas and energy sectors, followed by travel and hospitality form the largest chunk. Other sectors in which opportunities are available include automotive, banking and financial services, infrastructure and construction, manufacturing and industrial, aviation and defence, among others,” says the source.

“Internships are available in over twenty fields, including operations management, production and manufacturing, maintenance, sales and marketing. The internship opportunities are spread across the length and breadth of the country, and have been made available in 650 districts, spread over 36 states and union territories,” the source adds.

It may be noted that the union ministry of corporate affairs last week rolled out the Prime Minister’s Internship Scheme (PMIS) on pilot basis to provide one lakh jobs to unemployed youth aged between 21 and 24 by December 2 this year. The pilot project is the first step in the direction of the budget announcement this year to provide internships to one crore youth in the top 500 companies in five years. As a part of the pilot, a centralised platform, in the form of a portal (www.pminternship.mca.gov.in) accessible to both internship seekers and companies, has been launched to manage the entire internship cycle.

The companies were given time to list the internship vacancies on the website starting October 3 till October 10. The portal will be opened for the youth to register for the internship opportunities on October 12 and will remain open till October 25. A list of shortlisted candidates will be prepared on October 26. Companies will finalise the names of the candidates beginning 27^th October till 7^th November. The selection will be made by the companies. Between November 8 and November 15, the candidates will be given the offer of internship and time to accept it. Actual commencement will begin on December 2. The period of twelve months will commence from December 2. It may be noted that for a period of one year, the government will pay ₹4,500 per month to the candidates and ₹500 will be given by the company.

internship scheme

50,000 internships up for grabs; Jubilant, Eicher, L&T, M&M post vacancies on MCA portal