New Delhi, Jan 18, 2025: The latest report titled "From Learning to Earning: The Role of CSR in Transforming Education into Employability," by TeamLease EdTech, reveals the significant strides Corporate India is making to align its Corporate Social Responsibility (CSR) initiatives with the Prime Minister's Internship Scheme 2024. Insights from 932 surveyed companies emphasize the growing role of internships in bridging skill gaps and advancing employability for Indian youth.
The report highlights that over 76% of companies are prioritizing tech roles within their internship programs, showcasing the industry’s focus on digitally skilled talent to meet evolving demands. Additionally, 73% of companies intend to absorb at least 10% of their interns as full-time employees upon the completion of the internship programs. This demonstrates the strategic role internships play in addressing talent supply chain challenges while contributing to workforce readiness.
The scheme also underscores a financial commitment from India Inc, with 34.43% of companies planning to allocate up to 20% of their CSR budgets to internship programs. This reallocation reflects a growing acknowledgment of internships as a powerful tool for societal impact and skill development. The report also reveals that 83.18% of respondents recognize the alignment of the PM Internship Scheme with India’s national goals of enhancing employability and workforce preparedness.
On the release of the report, Shantanu Rooj, Founder and CEO, TeamLease EdTech, said, “The PM Internship Scheme showcases the impact of public-private partnerships in addressing workforce challenges. With the majority of companies focusing on tech roles and committing to meaningful absorption rates, we're witnessing a strategic transformation that goes beyond traditional CSR. This initiative is effectively creating a sustainable talent pipeline while addressing India's critical employability challenges.”
The survey also identified widespread support for expanding the scheme, with 81% of companies advocating for its extension to all corporations. A majority of respondents (73%) also consider short-to-medium-term internships, lasting 1-6 months, as optimal for balancing meaningful skill development with program efficiency. To maximize impact, 32.43% of companies express a strong preference for partnerships with both universities and other corporates, emphasizing the role of collaboration in bridging the gap between academia and industry. Additionally, 54.05% of companies anticipate a measurable Social Return on Investment (SROI) from CSR-driven internships within 1-2 years, indicating optimism about the tangible benefits of these programs.
Jaideep Kewalramani, Head of Employability Business & COO, further shared, "The close alignment of CSR funds with internship programs represents a fundamental shift in “investment strategy” by many employers. Our research shows that companies are moving beyond conventional CSR approaches to create measurable social impact through skill development. With over half of the surveyed companies expecting Significant Social Return on Investment within two years and a significant number prioritizing multi-stakeholder partnerships, we're seeing the emergence of a more collaborative, outcome-driven approach to talent development. This model surely enhances youth employability while strengthening India's economic foundation through structured industry-academia collaboration.”
The PM Internship Scheme, introduced in the Union Budget 2024-25, mandates the top 500 companies to provide internship opportunities to one crore youth over the next five years. Each intern is entitled to a monthly stipend of ₹5,000, with companies allowed to use CSR funds to cover a portion of this stipend and associated training costs. While primarily targeting large corporations, the scheme has sparked broader discussions on its potential expansion to include smaller companies, paving the way for a more inclusive and impactful approach to youth employability and workforce development.
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