The trauma of distress migration of 2020, low wages, lack of social security and support systems in urban areas have combined to reduce the return of migrant workers to urban centres.
The veteran of the investment industry argues that this decade will witness an export-led growth. And while IT and pharma would rule the economy, other smaller industries, too, will jostle to rise up.
The pandemic has spawned a new ecosystem whereby companies are now looking beyond big cities to recruit fresh talent, and at times, at far lesser salaries.
India's new social security law is a landmark one, which enhances the distinction between gig and platform workers. It can also catapult Indian social security system into the 21st century.
The recent changes to the labour laws bring them in line with the demands of the present times and are more effective for workers.
There is a pressing need to revisit the dynamics of an urban-biased, economic geography to bring the focus back on developing more proximate economic hotspots within states.
The current crisis presents an opportunity to look at the seriousness of structural concerns present in our existing labour-market
Organisations should refrain from using the ongoing crisis as an opportunity to lay-off employees as there are other tools available to contain costs.
The advent of Industry 4.0 is going to be accelerated as factories will struggle to find labour that was earlier easily and competitively available in a country like India.
Startups, SMEs, medium-sized multinationals perceive the amendment as a deterrent and are likely to reduce intake of women.
