No.PR-265 September 23, 2020 New Delhi PHD Chamber hails the passing of three path breaking and game changer Labour Codes by the Lok Sabha PHD Chamber hails the passing of three path breaking and game changer Labour Codes by the Lok Sabha, to cover over 50 Crore workers from organized, unorganized and self-employed for minimum wages, social security and other labour welfare reforms, said Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, in a Press Statement issued here today. While appreciating the historic move of amalgamating 29 labour laws into three labour codes and one wage code already passed by the Parliament, Dr D K Aggarwal, President, PHD Chamber of Commerce and Industry, said that the three bills would significantly boost new industrial investments including foreign investments, create tremendous employment opportunities particularly in the MSMEs sector and provide a global competitive edge to the Indian economy in the coming times. These bills namely (i) Industrial Relations Code, 2020 (ii) Code on Occupational Safety, Health & Working Conditions Code, 2020 & (iii) Social Security Code, 2020 are reflective of Government’s earnest desire to bring the much needed labour welfare reforms in the country while keeping the labour interest uppermost in the mind, said Dr Aggarwal. The codes not only aim to reform India’s archaic and complex labour laws but also expand their ambit to protect the interests of migrant workers, gig economy workers and unorganised workers while simultaneously providing operational freedom to manufacturers. The three labour codes will provide autonomy to States to amend labour laws that suit their industrial needs and allow flexibility in hiring and cutback without seeking Centre’s permission, added Dr D K Aggarwal. The Government has given major thrust to ease of doing business and has worked aggressively to ensure that India moves up on the rankings of ease of doing business of the World Bank. India has been continuously improving in World Bank’s Ease of Doing Business Rankings and has jumped by 79 spots from 142nd rank in 2015 to 63rd rank in 2020 among 190 economies. The comprehensive labour codes would act as a catalyst to further reduce the cost of doing business in India and attract significant foreign investments and achieve the goal set by our Hon’ble Prime Minister Shri Narendra Modi ji of a USD 5 trillion economy by 2024-25, said Dr Aggarwal. Going ahead, we urge the States to come forward and implement all the consolidated labour bills to significantly enhance India’s labour productivity and create millions of job opportunities enabling a higher economic growth trajectory in the coming years, said Dr D K Aggarwal. Ends Media Division PHD Chamber of Commerce and Industry
PHD Chamber of Commerce and Industry, established in 1905, is a proactive National Apex Chamber working at the grass-root level and with strong national and international linkages.