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