Mumbai, Jan 17 : A recent report reveals that over 81% of corporate India endorses the Prime Minister’s Internship Scheme 2024, with many companies aligning their corporate social responsibility (CSR) initiatives to support its implementation.

Introduced in the Union Budget 2024-25, the scheme mandates the top 500 companies to provide internship opportunities to one crore youth over five years. Each intern is entitled to a monthly stipend of ₹5,000, which companies can partially fund through their CSR budgets, including related training expenses.

According to the TeamLease EdTech report, “From Learning to Earning: The Role of CSR in Transforming Education into Employability,” 81% of companies advocate extending the scheme to all corporates. Based on insights from 932 companies, the report also highlights that 73% of respondents find short-to-medium-term internships (1-6 months) ideal for combining skill development with programme efficiency.

To enhance the scheme’s impact, 32.43% of companies favor collaborative partnerships with universities and other corporates to bridge the gap between academia and industry. Over 54% of firms anticipate a measurable social return on investment (SROI) within 1-2 years, reflecting optimism about the program’s benefits.

The report also underscores a growing emphasis on technology roles, with 76% of companies prioritizing tech-focused internships to address the demand for digitally skilled talent. Furthermore, nearly 73% of companies plan to hire at least 10% of their interns as full-time employees, showcasing the strategic value of internships in resolving talent supply challenges and enhancing workforce readiness.

“The PM Internship Scheme exemplifies the potential of public-private partnerships in tackling workforce challenges,” said Shantanu Rooj, Founder and CEO of TeamLease EdTech. “With a focus on tech roles and meaningful absorption rates, this initiative is creating a sustainable talent pipeline while addressing critical employability issues in India.”