Workers’ strikes and unfortunate incidents of the recent past have brought about unrest in the Indian industry, along with huge economic impacts. Many sectors such as banking and financial services, oil, coal and power have been affected. This scenario calls for an urgent need of labour market reforms as India’s current restrictive labour law, systems and policies are not conducive for the organised labour market. Also playing spoilsport in the casual labour market are inadequate implementation of legislation on minimum wages and other social security benefits like PF and ESIC. As a result, the inflexible nature of labour markets has led to greater informalisation of the workforce, whereas relatively ‘flexible’
Honorable Union Minister for Labour and Employment Shri Mallikarjun Kharge speaking at a seminar recently in a leading educational institution, said that the failure to evolve a ‘tripartite consensus’ has thwarted the Government’s efforts to cut ‘red tape’ in labour laws.”
Since its inception in 2011, Indian Staffing Federation is striving to facilitate a suitable, legal and regulatory environment that is positive and conducive to industry. As a part of its mission, the national conclave was organised in the city.
Mr. K Pandia Rajan, President, Indian Staffing Federation, said, ‘While economic growth is very important for a country like ours, in order to fully reap the benefits, it is necessary for a more inclusive growth with better macroeconomic policy and implementation of labour market reforms. These reforms will support reduction in the division between the formal and informal employment.”
Ms Rachna Saksena, Chairperson – West and Member Executive Board- ISF stated, “As our country’s economy continues to grow, the focus should definitely be on improving the quality of the work force and developing skilled workers, besides adopting IT solutions to integrate the workforce and streamline the regulatory environment.”