Codes progressive, say experts

TO SPUR JOB CREATION BUT EXECUTION REMAINS KEY, THEY SAY

- SURYA SARATHI RAY

HANGING FIRE SINCE 2019-20, the four labour codes will go a long distance towards universalising minimum wages and social security for all workers and accelerate formal job creation, experts said.

The codes, they said, will also significantly ease the compliance burden and the retrenchment process, aligning with the seasonality and vicissitudes of their businesses.

Teamlease Vice Chairman Manish Sabharwal said that the new labour codes are an overdue gift to India’s young, women, factories, MSMEs and backward states. “But the self-interest of the vocal minority labour aristocracy cannot be considered national interest in a country where 65% of our population is less than 35 years old. It is a major reform that will accelerate formal, non-farm, high-productivity job creation.”

Chandrajit Banerjee, director general, CII, called ‘it a historic milestone for India’s labour landscape’. “By consolidating 29 diverse laws, these codes ensure better wages, stronger social security, enhanced workplace safety and a more predictable regulatory environment for both workers and industry.”