NEW DELHI: The Indian industry hailed the raft of labour reforms as unveiled by Prime Minister Narendra Modi on Thursday stating that these would do away with the infamous inspector raj, make India an easy business destination and help improve the sentiment of the global investor while ushering in necessary transparency.
The reforms, India Inc felt would create a conducive environment for growth of businesses as they can look forward to simpler procedures and provide a huge fillip to manufacturing, industry bodies said.
“The reforms announced are aimed at removing ‘Inspector Raj’, simplifying compliances by clubbing and consolidating returns, bringing more transparency and accountability and stressing on skill development, through overhauling ‘Apprenticeship System, industry chamber Ficci said in its observations after the announcement.
“We welcome the Labour Ministry’s initiative of launching the ‘Shram Suvidha Portal’ to facilitate a single window for compliance of labour laws,” CII Director General Chandrajit Banerjee said.
PHD Chamber President Sharad Jaipuria termed “Shramev Jayate” a success mantra that would not only create millions of job opportunities but also facilitate in reaping the demographic dividend and enhance ease of doing business.
“Shramev Jayate would be critical to enhance growth of manufacturing sector and its value added to the GDP. It will facilitate the firms to deploy desired workforce in their manufacturing units vis-à-vis softening procedural compliance,” he said.
Exporters’ body Federation of Indian Export Organisation (FIEO) said “Filing single tax return to comply with 16 labour laws, provision for single window, self certification, and computerised random selection of units for inspection will add to the ease of doing business which is a basic requisite both for domestic manufacturers and foreign investors.”