PM internship scheme looks to bridge gap in employability: FM Sitharaman

Overall, over 91,000 opportunities have been posted on the internship portal, and 155,000 applicants have registered to apply

The Prime Minister Internship Scheme is aimed at bridging the employability gap for students coming fresh out of college, Finance Minister Nirmala Sitharaman said on Monday.

Speaking at the ‘Meet the Great Leaders' Programme at St Teresa's College, Ernakulam, in Kerala, Sitharaman said, “In a prospective employee, companies are looking for something more than just a suitable degree or qualification. This is because they don't have to spend months training them on the job.”

The FM said that as of Monday, under the scheme, 39 companies from the top 500 in India have given 1,800 internship opportunities in Kerala. One-third of this is provided by companies in Ernakulam itself.

The internships here are being offered in diverse sectors, ranging from manufacturing, automotives & textiles, to banking, financial services, travel & hospitality.

So far, over 91,000 opportunities have been posted on the internship portal and 155,000 applicants have registered themselves.

Highlighting the importance of financial literacy among children, Sitharaman said, “From childhood, we need to have financial education given to students. We should not wait for them to become adults to understand how to handle their money.”

Sitharaman said India can be a leader in artificial intelligence (AI), machine learning (ML) and big data & analytics, which are guiding Industrial Revolution 4.0. It can achieve what the other countries could not.

She added, “It's largely led by young minds spending a lot of time in research & innovation. That's why India can be a leader in it because our youth is very talented & use innovations to create out-of-the-box solutions. Our aspirations are high and we want to achieve what other countries could not.”

The FM said that both the International Monetary Fund (IMF) and the World Bank have recognised that India will continue to be the fastest-growing economy.

She said, “We are living in an India where people's efforts are paying off. The government's policies are supportive and as a result, we're simultaneously pushing all levers so that growth can be sustained.”