PM eyes first labour overhaul in decades to create jobs
Prime Minister Narendra Modi has set in motion the first major revamp in decades of country’s archaic labour laws, part of a plan to revive the flagging economy, boost manufacturing and create millions of jobs. Successive governments have agreed labour reform is critical to absorb 200 million Indians reaching working age over the next two decades, but fears of an ugly union-led backlash and partisan politics have prevented changes to free up labour markets. Now, with the benefit of a single party majority in the lower house of parliament for the first time in 30 years, laws that date back to just after the end of British rule are set for an overhaul.
Prime Minister Narendra Modi has set in motion the first major revamp in decades of country’s archaic labour laws, part of a plan to revive the flagging economy, boost manufacturing and create millions of jobs. Successive governments have agreed labour reform is critical to absorb 200 million Indians reaching working age over the next two decades, but fears of an ugly union-led backlash and partisan politics have prevented changes to free up labour markets. Now, with the benefit of a single party majority in the lower house of parliament for the first time in 30 years, laws that date back to just after the end of British rule are set for an overhaul.
Read the Economic Times news report here.
