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Finance Minister Nirmala Sitharaman on May 1 inaugurated the first PM Internship Scheme (PMIS) facilitation centre in the Kolkata, saying the facility will help youngsters with internship and making informed career choices.

The minister said the facilitation-centre will serve as a comprehensive hub of the PMIS and provide “end-to-end” support to youth to navigate their internship journey.

“Through PMIS, our goal is to democratise access to upskilling opportunities. We need collective participation to empower youth, strengthen the workforce, and drive inclusive growth for the nation,” the minister said about the programme that aims to bridge the gap between academic learning and industry needs.

“In this phase of the rapidly evolving global landscape, our conviction is that the most effective path to building economic resilience is to build domestic efficiencies and competitiveness,” she added.

The PMIS centre has been set up at the Corporate Bhawan in collaboration with the Confederation of Indian Industry (CII).

Such centres will be set-up across the country to help the youth and even the companies who have partnered with the government for the scheme.

Announced in the Budget for FY26, PMIS aims to provide internships to about 10 million youth in leading companies over five years. In the first round, 28,141 candidates accepted internship offers though the offer was made to 82,077.

In FY25, the ministry targeted 125,000 internship opportunities to candidates in 500-partner companies, which were selected on the basis of average Corporate Social Responsibility (CSR) expenditure in the past three years. It covers a diverse sectors including aviation and defence, automotive, banking and financial services, chemical industry, oil, gas and energy.

The government remains committed to simplifying business regulations, encourage entrepreneurship, strengthen institutions that promote fairness and accountability in corporate governance, the minister said.

The government has been taking various steps to improve ease of doing business and improve corporate governance through various steps, including digital initiatives, simplifying tax structures and reducing the red tape, Sitharman said.

“The emphasis on the reforms for the private sector are not just on large businesses but also on MSMEs,” she said.

Reflected government's intentions, the Budget announced a high-level committee for regulatory reforms to strengthen trust-based economic governance and transformational measures to improve EODB, especially in matters of inspections and compliances, the minister said.

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