Comments
Renault Nissan Automotive India Private Ltd (RNAIPL) today announced the conclusion of a long term settlement agreement with its workers representative union, Renault Nissan India Thozhilalar Sangam (RNITS).
In a press release, the automobile manufacturer said, the settlement with the Union is designed to ensure long term stability and covers a period of six years effective April 1, 2019 through March 31, 2025.
The management and union have jointly submitted the settlement before Justice P Jyothimani (Retd Judge of Madras High Court) in arbitration proceedings, following which an award has been passed, the release added.
Commenting on the latest order, Keerthi Prakash, Managing Director, RNAIPL, said, “We are very happy to reach this important agreement, ensuring employee voices were directly represented in securing a competitive settlement while at the same time keeping the welfare and aspirations of the workforce as our top priority.”
Earlier this month, the Renault Nissan alliance announced an investment of ₹5,300 crore (US$600 million) to support the development of six new models, including two electric vehicles at the plant for domestic and international markets.
Since RNAIPL began operations in 2010, more than 2.4 million Renault and Nissan vehicles have been manufactured at the plant, with exports to 108 countries.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.