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Analysis of the New Labour Code in India
Manipal University Jaipur (India)
Economic expansion requires jobs and safe, dignified workplaces. India’s growth story has remained incomplete due to a lack of required employment growth. The new law consolidates 44 primary labour laws into four main labour codes: pay, industrial relations, occupational safety, working conditions and social security. It was a conniving move on the part of the government to completely overhaul our labour laws. Given that we typically lack mean labourers by a significant margin, the question that remains is whether or not this can attract investors. There are several challenges that must be overcome before the economy can reach $5 trillion in 2025.