India Parliament Passes Labor Bills to End Investors’ Hurdle
- Companies to get geater flexibility to hire and fire workers
- Reforms to boost productivity, make easier to do businesss
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India’s parliament approved a set of long overdue labor legislations that aim to attract investment and make it easier for companies to do business in the South Asian nation.
The new bills include the industrial relations code that will allow companies with as many as 300 workers to fire them without seeking prior government approval, a three-fold jump from the current threshold.