Student internship plays a major role in transforming the engineering interns to ready-to-use professionals. Learning at the workplace has become a challenge for the interns due to several issues. A knowledge gap analysis has been depicted considering all stakeholders of the internship, including the intern, faculty, institution and the industrial organization. This article identifies and discusses these issues and provides a framework for effective learning and above-mentioned transformation considering the engineering industry. The role of the faculty is very important to successfully pursue an internship programme. The article also discusses, in detail, the role of the faculty in the success of the programme.