Industry & Economy
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Labour Reforms
OECD urges India to ease labour laws
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Mr Jean-Philippe Cotis, Chief Economist, OECD, at an interactive meeting with FICCI members in the Capital on Monday. - Kamal Narang
New Delhi
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Sept. 18
The Organisation of Economic Cooperation and Development (OECD) has advised India to liberalise business regulation by removing reservations for small firms, reducing tariff rates and easing of labour laws for large firms.
Such an approach could pave the way for labour market reform, as shown by the OECD experience, said the Chief Economist of OECD, Mr Jean-Philippe Cotis, at a meeting organised by industry chamber FICCI on Monday.
Mr Cotis said, "In India, the existing combination of greater competition and unchanged labour regulation is probably not sustainable. Indeed, it is putting pressure on many large employers to expand output through capital investment and reduce employment wherever possible, pushing jobs into the less productive informal sector."
The OECD, he said, is currently working on the first-ever OECD economic survey of India, which will provide an extensive analysis of the growth drivers and growth impediments in India, with particular emphasis on the role of economic policies.
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