Financial Daily from THE HINDU group of publications
Friday, May 28, 2004
Financial Daily from THE HINDU group of publications Friday, May 28, 2004 |
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Industry & Economy
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Industry Associations Assocham for flexible labour laws Our Bureau
New Delhi , May 27 THE President of the Associated Chambers of Commerce and Industry (Assocham), Mr Mahendra K. Sanghi, has advocated flexibility in labour laws for optimal utilisation of the human resource to achieve higher productivity and efficiency. At a meeting with the Union Labour Minister, Mr Sis Ram Ola, on Thursday, the Assocham Chief said, "Assocham does not favour the hire-and-fire policy, yet wants flexibility in managing human resource." Mr Sanghi stressed the need for providing social security to the workers to make them economically sustainable in the context of the restructuring by the industry to become globally competitive. He said, "There is a need for complementing and supplementing economic policies with the employment policy to ensure financial viability and expeditious growth of domestic industry as well as encouraging foreign investment in new ventures." He said, "A key issue is modifying and rewriting obsolete labour laws and making them customer focused, business and employee-friendly and strengthening mechanisms for effective monitoring and enforcement of labour laws."
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