Shramev Jayate To Boost Manufacturing Sector, Attract Investments

Applauding the government’s newest initiative ‘Shramev Jayate’, Federation of Indian Exports Organisation (FIEO) has said that the programmer will boost manufacturing and attract foreign direct investments in the sector.

“The initiatives announced are very significant for boosting manufacturing in the country and this will act as a supplement to the Make In India campaign launched last month,” said M Rrafeeque Ahmed, president, FIEO.

He added that the appointment of National Brand Ambassadors of Vocational Training and the fact that the government will focus on skill development are pragmatic steps to fill in the skill gap, which has been affecting both, the employability and productivity in manufacturing sector.

Under the initiative, investors can file single tax return to comply with 16 labour laws while provision for single window, self-certification, and computerized random selection of units for inspection will create conducive environment for manufacturers to do business in the country.

Sharing a similar sentiment, industry body ASSOCHAM noted that a transparency and clarity in the labour laws will attract investments in critical sectors such as infrastructure. “Measures announced clearly signals that trade and industry business in India is not so difficult. The production and productivity can be improved and the measures are employability friendly, competency- and business environment-friendly,” said DS Rawat, general secretary of the chamber.

Additionally, he said, “The simplification of procedures and introduction of unified web portal to insure compliance of labour laws is a welcome move which will avoid harassment at the hands of inspectors. The universal PF account number to the employees satisfies their long standing demand and enables quick transfer as well viewing their account statement anywhere anytime.”

It should be noted that since the beginning, the government has been focusing on development of the manufacturing sector in order to revive economic growth. The government has been vocal about projecting India as a strong manufacturing hub on the global radar.