Poor start to innings: Candidates back out after receiving offers

In the first week of companies extending offers under the scheme in November, the acceptance rate was about a third, with many candidates backing out at the last minute, one of the persons told ET.

The acceptance rate rose to about two-thirds of the offers later and is gradually improving further, he said.

Some candidates have cited reasons, including applying for the scheme under pressure from parents, for backing out later, he added.

While the scheme’s target of drawing 125,000 interns in the initial pilot project will be realised, as more than 620,000 aspirants had applied before the registration window closed, the corporate affairs ministry will factor in such issues when it expands the scheme in the coming months, the person said. “This is going to be a major lesson from the pilot project. There is no dearth of candidates willing to join but many non-serious applicants may reject the offers as well. So the government and companies need to be prepared for that when the scheme is expanded,” said one of the persons cited above.

Queries sent to the ministry on November 26 remained unanswered until the paper went to press on December 3.The first batch of candidates under the scheme started the internship on Monday and more will follow suit. But a formal launch of the scheme may take place later this month.The scheme, announced by finance minister Nirmala Sitharaman in the July budget, has a broad target of providing internship opportunities to 10 million young Indians in 500 top companies over five years to enhance employability among young Indians.

Reliance Industries, Tata Consultancy Services, HDFC Bank, Maruti Suzuki, Larsen & Toubro, Mahindra & Mahindra, Bajaj Finance and Jubilant Foodworks are among the companies that have joined the pilot project.