New Internship Portal Launches On October 3 To Connect Youth With Top 500 Companies
New Internship Portal Launches On October 3 To Connect Youth With Top 500 Companies
The Indian government, in collaboration with industry leaders, is set to launch a new internship portal on October 3, aimed at implementing the one-year internship scheme announced in the budget for youth aged 21 to 24. This initiative will provide a direct application platform for candidates seeking internships with the country’s top 500 companies, allowing firms to upload available positions before the portal goes live for candidates on October 12.
Eligibility criteria for applicants include being between the ages of 21 and 24, not currently employed full-time, and not having family members who are government employees. Notably, candidates with qualifications from prestigious institutions such as IITs, IIMs, or IISERs, as well as those holding CA or CMA certifications, will not be eligible. However, youth from ITI and Kaushal Kendra are encouraged to apply.
According to sources, the candidate selection process will utilize backend bots to ensure fairness and reduce bias. Companies will review the selected candidates, and if any chosen applicant does not meet their criteria, they can initiate the selection process again. A panel comprising government officials and industry representatives will be established to oversee the selection process and address any compliance issues.
The internship scheme is part of the Prime Minister’s Package for Employment and Skilling, which has an overall budget of ₹2 lakh crore. The initiative aims to provide skill training to over one crore youth in India’s top 500 companies over the next five years, focusing particularly on those with lower employability. Interns will receive ₹4,500 through Direct Benefit Transfer (DBT), with an additional ₹500 contributed by the company’s Corporate Social Responsibility (CSR) funds.
Companies are chosen based on their average CSR spending over the past three years, and they are encouraged to partner with other firms in their supply chain to enhance internship opportunities. The program will be implemented in two phases, with an initial goal of skilling 30 lakh youth over two years, followed by an additional 70 lakh youth over the next three years.
Interns may receive more than the ₹5,000 monthly stipend provided under the scheme, but any amount exceeding ₹500 must be fully funded by the company. Additionally, the government will grant ₹6,000 per annum to cover miscellaneous expenses incurred by interns during their tenure.
The Confederation of Indian Industry (CII), which is partnering with the Ministry of Corporate Affairs (MCA) to roll out the scheme, believes it will significantly enhance youth employability by offering hands-on experience in real-world business environments. CII Director General Chandrajit Banerjee emphasized that with industries facing a talent shortage, this scheme will bridge the gap by providing essential training to young people, ensuring businesses access a skilled workforce capable of meeting evolving industry demands.
