The Hindu Business Line : Chamber says time ripe for labour reforms

THE time is ripe for the Centre and the State Governments to embark on labour reforms, according to the new President of the PHD Chamber of Commerce and Industry (PHDCCI), Mr Ravi Wig.

Speaking to Business Line here, Mr Wig said that entrepreneurs need to have the flexibility of taking decisions on retrenchment of labour after factoring in their business requirements. ``We want labour laws that are realistic and implementable,'' he said.

At the same time, he held that there should be more ``safeguards'' for labour that are facing retrenchment.

Mr Wig said that PHDCCI, which now covers about 11 States and 2 Union Territories, would in the coming months focus energies on removing inter-State barriers on movement of goods.

``We should develop a common market for the North to start with,'' he said.

On foreign direct investments, Mr Wig called for the establishment of dedicated courts to hear legal issues relating to FDI.

``We need time bound judgements if foreign investors are to be comfortable with our legal system,'' he said.

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