“India’s Top 500 Companies to Open Doors: New Internship Portal Empowers Youth with Skill-Matching Opportunities”
A groundbreaking initiative is set to reshape the landscape of youth employment in India, with the launch of a new portal designed to directly connect aspiring interns with the nation’s top 500 companies. Announced as part of a special package in the Union Budget 2024-25, this portal aims to match the skill sets of young applicants with internship opportunities offered by leading corporations, creating a seamless bridge between talent and industry needs.
This ambitious project, spearheaded by the Ministry of Corporate Affairs (MCA), is poised to revolutionize the way internships are accessed and utilized. In contrast to traditional methods that rely on existing databases, this portal will allow companies to list their available internship opportunities, which will then be dynamically matched with the profiles of prospective applicants. This ensures that only those who are genuinely interested and qualified are considered, fostering a more efficient and targeted approach to internships.
The guidelines for this internship scheme are expected to be rolled out in the next two weeks, after which the portal will go live, offering a streamlined, user-friendly interface for youth across the country. The MCA is actively engaging with companies to finalize these guidelines, ensuring that the system is both fair and beneficial to all parties involved.
This initiative is a cornerstone of the Prime Minister’s Package for Employment and Skilling, which was unveiled by Finance Minister Nirmala Sitharaman in the Union Budget. With an impressive allocation of Rs 2 lakh crore, the package is designed to provide internships to one crore young people over the next five years, focusing particularly on those who are less skilled and less employable. These internships will offer invaluable exposure to real-world business environments and diverse professions, giving participants a much-needed boost in their employability.
To support these young interns, the government has announced an internship allowance of Rs 5,000 per month, alongside a one-time assistance of Rs 6,000. Companies participating in the scheme will cover the training costs and contribute 10% of the internship expenses from their Corporate Social Responsibility (CSR) funds.
The government is also working closely with these companies to establish a “voluntary quota system” for internships, based on CSR expenditure. This system is designed to ensure that the opportunities reach those who are often excluded from traditional recruitment channels. In a bid to focus on the truly disadvantaged, the scheme will exclude candidates from privileged backgrounds, such as those from IITs, IIMs, or families of government servants, aiming instead to uplift those who have been left behind.
With the portal’s launch imminent, this initiative stands as a testament to the government’s commitment to empowering the youth and driving inclusive growth. By facilitating direct connections between young talent and industry giants, this scheme promises to unlock new opportunities, bridging the gap between aspiration and achievement for millions of young Indians.
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Author:- Apoorva Arora