India has recently introduced significant labour-law reforms, combining 29 old labour laws into 4 new labour codes. These reforms focus on creating a more modern, transparent and worker-friendly labour system.
✨ Key highlights:
- 📄 Appointment letters mandatory for all workers
- 🛡️ Stronger social-security benefits including for gig & platform workers
- 👩🔧 Gender equality rules and equal employment opportunities
- 🎁 Gratuity available earlier to employees compared to before
- 🚖 Gig & contract workers now eligible for welfare funds
📌 Why this matters:
- Boosts regulatory clarity and reduces legal complexity
- Improves worker safety, rights & productivity
- Helps India become more attractive for foreign investors
- Could support a more efficient and formalized workforce
⚠️ Challenges / Things to watch:
- Actual impact depends on implementation and enforcement
- Small businesses and informal sector may face compliance pressure
- Hiring costs may rise, possibly impacting job creation short-term
