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STFC raises money Auto test tracks launched at GARC Oragadam campus Business Briefs TiE applauds innovative entrepreneurs Celebration time at MS Chola IFCI to raise NCDs upto Rs 2000 crore Indigo stays leader with 40 per cent share Apple maps – finding its way Waste, a gold mine CUB: towards card-less withdrawal Smart controls for cooling large multi-zone spaces ... Dynamic e-commerce scenario TCS’ revenues cross Rs 100,000 crore Innovation that helped Chennai port Investor friendly Japan Sun Edison launches solar pumps Connecting the unconnected Focus on self-certification and third party inspection Climate change may change the way businesses work... WABCO’s second Chennai plant Veritas Finance- financing the unfinanced TVS Logistics – another acquisition to sharpen the business model Bridging the skill deficit in pharma industry Realising double digit growth in Tamil Nadu Well-refined – RIL’s refinery margins zoom Pharma market dozes Digital retail transactions stabilise at higher level… Nigeria comes nearer TII’s single largest investment at Thiruthani Steel loses its sheen Make way for the new and dynamic railways OBO Bettermann for better lightning protection BRICS development bank Striking cords for 25 years… Indian Bank – global businesses crosses Rs 3 lakh crore... Chola MS launches motor app Chennai to get a roundabout Metro Changing dynamics in human resource management Flexible labour laws… Big-ticket investments march towards Punjab Need to focus on ease of doing business... Brand leaders come forward... Chennai Port is at last decongested! Four daughters and a proud father ALL to launch electric busses - ALL – truck industry is recovering from degrowth Gem of social service... Curbing steel imports will hurt small business... Automotive Vision Plan II... Housing Innovation Challenge, 2015 LVB gears to become a financial supermarket Three more leather clusters… Industry-well poised to invest on expansion European crisis is a global crisis! Inclusive and forward moving... ECGC expands operations Reality bytes TOP 10 CEO Compensation Hyundai excites again SumInfra- corridor based development... Realty sector takes a break... Economic issues take a back seat at G20 summit An aerospace-defence cluster in Tamil Nadu… ALL-two launches in a row Illicit markets a concern to growing economy AirAsia India infuses funds to fight out competition Is Indian telecom industry heading for a monopoly? Techies trip to India Durga - India’s largest blast furnace; now operational Strategy war escalates between Hero and Honda When Centre visits the state More gensets and diesel engines from TAFE Research needs more funding Secured NCDs from Shriram City A global plastic event in India The new look- 4s Verna Hero Motocorp - smooth ride An American alliance in the chemical industry? Carrefour’s quick exit Applauding enterprise... Rating of states to be released soon On the ‘milky’ way Purdue and IIT-M sign the dotted line Celebrating 180 years of relevance Schwing Stetter India joins hands with US-based Gomaco TN budget pragmatic and moderate on fiscal deficit World labour laws at a glance Chennai will soon get its World Trade Centre Adding Zest to Scooty TII-challenging year with flat growth Nothing to hide... People Flow Day- Safety Holiday Inn opens in OMR Chennai Business Breif Airlines wage price war Blue Star plans a new plant in south Placing the right shoe forward... Creating Tamil Nadu Banana brand Scoot offers just Rs.13,500 to ANZ... Economic, business and social sustainability Tata Steel commence operations at Kalinganagar Downsizing spree... Backpack laboratory Chola MS net crosses 100 crores Time to fast-pace the logistics sector Towards peace of mind Murugappa- a year of consolidation ISRO's 100th mission Ridley marathon to India
 
World labour laws at a glance

A study on ‘Comparison on Labour Laws: Select Countries’ compiled by the Exim Bank and MCCI was launched recently. The bank’s CMD T C A Ranganathan stated that the book analyses the labour laws in 20 countries under 15 parameters. The parameters included regulations on collective bargaining and settlement of industrial disputes, contract labour and employment security based on termination, comparisons on conditions of work hours... India is way down on the list.

    Globally India’s exports are very low and imports have risen drastically. Ranganathan pointed out that even though Indian companies managed profitability, they did not have a place in world market due to lack of technology. On the contrary, China made a mark in world market with their cost-effective products while other developed countries had an upper hand on technology. India is still struggling to find its place between these two.

    Indian labour law was enacted during the colonial period and since then no drastic change has taken place on par with the change in labour behaviour.

    All the parameters mentioned above must have a change in accordance with present trend.  Only six states, Maharashtra, Andhra Pradesh, Karnataka, Gujarat, Madhya Pradesh and Tamil Nadu were found to be both employer and employee-friendly in India.

    India also ranked 82 in the Global Competitiveness Report by World Economic Forum and the reasons cited for this downfall were hiring and firing practice alongside restrictive labour regulations in India.

    With 487 million people coming under the labour sector and a change provoking study done by the EXIM bank team, changes in these laws will lead India to be competitive in global market.

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