PM Internship Scheme Nears Pilot Completion Cabinet Nod Soon: FM Sitharaman

(MENAFN- KNN India) New Delhi, July 12 (KNN) Finance Minister Nirmala Sitharaman on Friday announced that the pilot phase of the Prime Minister Internship Scheme (PMIS) is nearing completion, and the government will soon seek Cabinet approval to formally launch the regular scheme.

The announcement was made during a roundtable discussion on PMIS focused on the North East region.

The scheme aims to train 10 million youth over five years by placing them in internships across top-tier companies, bridging the skills gap and enhancing employment prospects.

Highlighting India's demographic advantage, Sitharaman said,“India is going through a decade or more of demographic dividend. If we can harness the productive skills of our youth, it will add significantly to the economy.”

She underscored the importance of creating awareness about the scheme to ensure broader participation and equitable access.“Word-of-mouth campaigns can help ensure that no deserving candidate is left behind,” she noted.

Sitharaman also called on industries to extend internship opportunities not just within their core organisations but throughout their supply chains.

The effort, she said, is to address a persistent mismatch in the job market:“Employers are not finding the right people, and young people are not finding the opportunities they seek. The government is trying to bridge this gap.”

Addressing broader economic themes, the Finance Minister stressed the need for a redefined approach to globalisation-one that is aligned with local priorities and grounded in ethical capitalism.“We don't need globalism that sweeps us out. What we need is to embed business with more accountable practices, with a level of humanism,” she said.

The PMIS is part of the government's wider agenda to empower youth, strengthen workforce readiness, and support inclusive growth by leveraging India's young population.

(KNN Bureau)

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