In this episode, we are joined by Rishi Agrawal (CEO, Avantus Regtech) and Aashish Chandorkar (Author & Columnist) to discuss the various nuances and impact of the recent Labour reforms introduced by the Government. Rishi and Aashish conduct a fascinating fact-based examination of the current labour laws and makes the case for why less is more.
They begin by explaining the need for labour reforms in the country and how it has held back economic growth, especially, in the manufacturing industry. While explaining the complexity of compliance, Rishi cites examples of outlandish regulation like the over 1000 permutations of minimum wage in Karnataka and the law requiring kitchen canteens to be whitewashed for inspection every 4 months, including specifications on how the top shelf has to be cleaned! To make matters worse, regulation can change over 3000 times in a year! Aashish explains how Indian regulation must move on from the archetype of all businessmen being ‘chors’ (theives), especially in the post-COVID World. Rishi moots the formation of a National Compliance Committee that can further simplify the laws. Loaded with insights, this is a must listen for anyone interested in policy matters.
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