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<keyword id="20779198" type="General" weightage="20" keywordseo="Chief-Economic-Advisor" source="keywords">Chief Economic Advisor</keyword> V Anantha Nageswaran emphasized the crucial and positive role that artificial intelligence (<keyword id="19899640" type="General" weightage="20" keywordseo="AI" source="keywords">AI</keyword>) can play for the <keyword id="22505095" type="General" weightage="20" keywordseo="Indian-demography" source="keywords">Indian demography</keyword> and <keyword id="20278114" type="General" weightage="20" keywordseo="labour-force" source="keywords">labour force</keyword> during a press conference on the <keyword id="20613906" type="General" weightage="100" keywordseo="Economic-Survey" source="keywords">Economic Survey</keyword> 2023-24. He noted that within the next decade, India is poised to become the world's third-largest economy and will benefit significantly from its demographic dividend. However, Nageswaran also acknowledged potential challenges posed by AI, particularly for India's <keyword id="20811086" type="General" weightage="20" keywordseo="business-process-outsourcing" source="keywords">Business Process Outsourcing</keyword> (BPO) sector. He stated, "The short-term challenge of generative AI could slow <keyword id="22505093" type="General" weightage="20" keywordseo="BPO-sector-growth" source="keywords">BPO sector growth</keyword>, affecting <keyword id="21300718" type="General" weightage="20" keywordseo="customer-services" source="keywords">customer services</keyword>. It is possible that the jobs related to BPO will be under threat whereas AI may actually turn out to be a booster." Furthermore, Nageswaran also pointed out that the emergence of AI might reduce annual <keyword id="21420133" type="General" weightage="20" keywordseo="productivity-growth" source="keywords">productivity growth</keyword> by approximately 0.3 percentage points in the coming years. This indicates a potential short-term dip in productivity as industries adapt to new technologies. Despite these challenges, Nageswaran added that the long-term potential of AI is promising. The broader adoption of AI could lead to significant improvements in critical areas such as healthcare and education, thereby enhancing human capital. The economic survey presented in the Parliament by finance minister Nirmala Sithraman says in the medium term Indian economy can grow at a rate of 7 per cent. The economic survey stated, "In the medium term, the Indian economy can grow at a rate of 7 per cent plus on a sustained basis if we build on the structural reforms undertaken over the last decade. This requires a tripartite compact between the Union Government, State Governments and the private sector." Achieving a sustained growth rate of over 7 per cent will require a tripartite compact between the Union Government, State Governments, and the private sector. India's financial sector is undergoing critical transformations. During FY24, primary capital markets facilitated capital formation of Rs 10.9 lakh crore, accounting for approximately 29 per cent of the gross fixed capital formation of private and public corporates in FY23. It further adds India faces a unique blend of opportunities and challenges amid global trends such as geo-economic fragmentation, a push for self-reliance, looming climate change, the rise of technology, and limited policy space. (ANI)

AI could slow BPO sector growth: Chief Economic Advisor Nageshwaran

Indian women’s participation in the labour force fell by 10 percent in the past 15 years

New Delhi [India], November 13 (ANI): <keyword id="178886" type="General" weightage="20" keywordseo="indian-manufacturing" source="Orion">Indian manufacturing</keyword> has accelerated through the second quarter of 2023-24 and is likely to continue for the subsequent quarters of the financial year 2023-24, notwithstanding the slowdown in developed nations, industry body <keyword id="19481819" type="General" weightage="20" keywordseo="ficcis-latest-quarterly" source="Orion">FICCI's latest quarterly</keyword> survey revealed. The industry body's latest quarterly survey assessed the performance and sentiments of manufacturers for the July-September 2023-24 quarter for ten major sectors -- automotive and auto components, capital goods and construction equipment, cement, chemicals fertilizers and pharmaceuticals, electronics and white goods, machine tools, metal and metal products, textiles, apparels and technical textiles, paper, and miscellaneous. It sought responses from over 380 manufacturing units from both the large and SME segments with a combined annual turnover of over Rs 4.88 lakh crores. The existing average capacity utilization in the Indian manufacturing sector is around 74 per cent, slightly higher than the 73 per cent recorded during the previous quarters. The future <keyword id="628648" type="General" weightage="20" keywordseo="investment-outlook" source="Orion">investment outlook</keyword> has also improved as compared to the previous quarter as over 57 per cent of respondents reported plans for investments and expansions in the coming six months. This is also a slight improvement over the previous survey. In terms of major constraints, demand is a limiting factor to realise the true potential of the manufacturing sector in India, with over 40 per cent of respondents highlighting this as a significant constraint. "Whether it is domestic demand or exports, this remains a major limiting factor. Some other constraints, though not major ones are high raw material prices, increased cost of finance, logistics, and other supply chain disruptions are some of the major constraints which are affecting expansion plans of the respondents," finds the FICCI survey. The table below gives the average capacity utilization for various sub-sectors of manufacturing: On the export front, performance seems to be better than in previous quarters as over 48 per cent of the respondents reported higher exports in July-September 2023-24 as compared to 33 per cent in Q1 2023-24. "However, further improvement in export demand is required in the light of the country's growth aspiration," FICCI said. Further, the hiring outlook, according to the survey, looks stable with around 38 per cent of the respondents looking at hiring additional workforce in the next three months. "Most sectors have sufficient labour force engaged in their operations and are not facing a shortage of labour at factories. While 82 per cent of our respondents mentioned that they do not have any issues with workforce availability, the remaining 18 per cent feel that there is still a lack of skilled workforce available in their sector," FICCI noted. (ANI)

Indian manufacturing sector growth expected to continue: FICCI survey

<ul><li>The number of salaried <keyword id="32919" type="PERSON" weightage="20" keywordseo="women-employees">women employees</keyword> in the urban workforce has increased by 2.1%, compared to 1.5% amongst men, according to the <keyword id="3429286" type="PERSON" weightage="20" keywordseo="Periodic-Labour-Force-Survey">Periodic Labour Force Survey</keyword> (PLFS) released by the National Statistical Organisation (NSO). </li><li>The overall share of salaried employees improved from 48.3% in 2018 to 50% in March 2019. </li><li>The unemployment rate dropped to 11.6% among women against 12.8% in June last year. </li><li>According to the Monster Salary Index, women earn 19% less than men in India. </li></ul>Fewer Indian women are a part of its labour market. But their participation seems to be growing at a faster rate than that of men. Salaried women employees in the urban workforce increased by 2.1% as compared to 1.5% among men, according to the <a href="https://economictimes.indiatimes.com/jobs/rise-in-salaried-workers-women-fare-better-nso/articleshow/72217767.cms?from=mdr">Periodic Labour Force Survey (PLFS) </a>released by the National Statistical Organisation (NSO). The overall share of salaried employees improved from 48.3% in 2018 to 50% in March 2019. However, the survey also says that unemployment is higher among women. The rate of unemployment in women dropped to 11.6% as against 12.8% in June last year. But it is yet to match that of men where unemployment rate is at 8.7%. <keyword id="2191211" type="PERSON" weightage="20" keywordseo="gender-pay-gap">Gender pay gap</keyword> remains However, the pay gap remains an area of concern for the government and organisations. According to the<a href="https://www.businesstoday.in/current/economy-politics/gender-pay-gap-still-high-women-in-india-earn-19-per-cent-less-than-men-report/story/325378.html"> Monster Salary Index,</a> women earn 19% less than men in India. The online job search platform shows that the gender pay gap widens with higher skill level but exist all across. This could be one of the many reasons why women participation in the workforce is low. Even after five years, merely 22% of the females between the age bracket of 15-30 years are expected to enter the labour force, according to the <a href="https://indianexpress.com/article/india/skills-study-over-next-5-years-just-1-in-5-entrants-to-labour-force-a-woman-6127848/">National Skills Development Corporation</a>. That means, of the 59 million people who enter the job market, only one in five will be women. Education Statistics Though fewer women are expected to work, there has been no change in women who are keen on an education. Female participation at the higher secondary level stood at 70.8% over the last decade. But this is changing as the skill levels increase. The share of women in engineering and management courses dropped in 2018, the survey highlighted. While the students enrolling in vocational courses rose by 3.9% in the last four years. See also: <a href="https://www.businessinsider.in/unemployment-in-india-highest-among-urban-youth-says-government-data/articleshow/69631185.cms">Unemployment in India highest among urban youth, says government data</a> <a href="https://www.businessinsider.in/male-workforce-is-reportedly-shrinking-in-india-reveals-job-survey-by-nsso/articleshow/68498030.cms">Male workforce is reportedly shrinking in India, reveals job survey by NSSO</a> <a href="https://www.businessinsider.in/business/news/over-200-economists-academicians-ask-govt-to-release-nsso-data-reports/articleshow/72172989.cms">Over 200 economists, academicians ask govt to release NSSO data, reports</a>

More women are drawing salaries in India but the gender pay gap persists

<ul><li>In a joint statement released on March 14th, <keyword id="7428828" type="UNKNOWN" weightage="20" keywordseo="108-economists">108 economists</keyword> and social scientists in India and abroad decried the political interference in India’s statistical institutions like the <keyword id="109702" type="ORGANIZATION" weightage="20" keywordseo="CSO">CSO</keyword> and <keyword id="159764" type="COMPANY" weightage="20" keywordseo="nsso">NSSO</keyword>. </li><li>The statement included signatories such as Jean Dreze, Amartya Lahiri and Satish Deshpande. </li><li>Terming economic data a “public good, it appealed to all the country’s economists to raise their voices against the “suppression of uncomfortable data” </li></ul> In a joint statement released on March 14th, 108 economists and social scientists in India and abroad decried the political interference in India’s statistical institutions like the Central Statistical Office (CSO) and National Sample Survey Organisation (NSSO). The statement included signatories such as Jean Dreze, Amartya Lahiri and Satish Deshpande. Terming economic data a “public good, it explained the risk to the credibility of India’s statistics bodies and appealed to all the country’s economists to raise their voices against the “<a href="https://www.business-standard.com/article/pti-stories/108-economists-social-scientists-concerned-over-political-interference-in-data-estimation-119031400979_1.html">suppression of uncomfortable data</a>” and lobby the government to “ re-establish institutional independence and integrity to the statistical organisations. The statement specifically highlighted the problems inherent in the <keyword id="6354642" type="PERSON" weightage="20" keywordseo="Modi">Modi</keyword> administration’s release of back-dated series of <keyword id="401117" type="PERSON" weightage="20" keywordseo="GDP-data">GDP data</keyword>. It also said that the government’s base-year system of revision inflated growth rates when compared with estimates by independent economists. In November last year, India’s Ministry of Statistics, in conjunction with government think tank, Niti Aayog, <a href="https://www.businessinsider.in/indias-bjp-led-government-has-released-a-set-of-revised-gdp-data-that-dramatically-reduces-growth-during-the-previous-administrations-tenure/articleshow/66861828.cms">released a revised set of GDP data</a> that showed that growth under the previous <keyword id="1575" type="ORGANIZATION" weightage="20" keywordseo="Congress">Congress</keyword> government between 2004-05 and 2013-14 was less than what the current BJP-led administration has achieved over the last four years. The joint statement also cited the government’s concealment of its latest jobs report - the Periodic <keyword id="1830313" type="PERSON" weightage="20" keywordseo="Labour-Force-Survey">Labour Force Survey</keyword> (PLFS) - owing to its unfavourable findings. In an election year, anything that calls into question its economic track record is sure to be used by its opponents. At the end of January 2019, PC Manohan and JV Meenakshi - the only external members of India’s National Statistics Commission - <a href="https://www.businessinsider.in/a-hidden-jobs-survey-in-india-casts-doubt-on-data-integrity-under-narendra-modi-government/articleshow/67750383.cms">resigned from the body</a> after the government shelved the report. The report, which was subsequently leaked, showed that unemployment hit a <a href="https://scroll.in/latest/911462/unemployment-was-at-45-year-high-after-note-ban-shows-centres-buried-report-business-standard">45-year high</a> in 2017-18. In response to the statement, PC Manohan said that India’s political parties should <a href="https://www.business-standard.com/article/pti-stories/pol-parties-should-take-note-of-economists-concerns-over-statistical-data-ex-nsc-chief-mohanan-119031401247_1.html">pay attention to the economists’ concerns</a>. SEE ALSO: <a href="https://www.businessinsider.in/a-hidden-jobs-survey-in-india-casts-doubt-on-data-integrity-under-narendra-modi-government/articleshow/67750383.cms">Modi government has a hidden jobs report — say two independent bureaucrats who just quit</a> <a href="https://www.businessinsider.in/indias-bjp-led-government-has-released-a-set-of-revised-gdp-data-that-dramatically-reduces-growth-during-the-previous-administrations-tenure/articleshow/66861828.cms">India’s BJP-led government has released a set of revised GDP data that dramatically reduces growth during the previous administration’s tenure</a>

108 economists and academics just asked the Indian government to stop interfering with economic data

<ul><li>Nearly 93% of the population in India did not receive any vocational or <keyword id="639521" type="UNKNOWN" weightage="20" keywordseo="technical-training">technical training</keyword>, according to <keyword id="3429286" type="PERSON" weightage="20" keywordseo="Periodic-Labour-Force-Survey">Periodic Labour Force Survey</keyword> (PLFS) 2017-18. </li><li>In contrast, as many as 1.5 million(21%) people have gained skills and jobs under the country’s <keyword id="2473582" type="PERSON" weightage="20" keywordseo="Skill-India-mission">Skill India mission</keyword>. </li><li>Globally, nearly 73 million young people are unemployed, according to the <keyword id="6355833" type="LOCATION" weightage="20" keywordseo="united-nations">United Nations</keyword>. </li><li>In the last budget speech, the government had announced industry relevant skill training for 10 million youth in India.</li></ul>Despite Indian government’s Skill India initiative, a large chunk of its population — nearly 93% — never received any vocational or technical training. According to the Periodic <keyword id="1830313" type="PERSON" weightage="20" keywordseo="Labour-Force-Survey">Labour Force Survey</keyword> (PLFS) 2017-18, merely 1.8% of the population received formal training on technical aspects and employment-ready skills, Mint <a href="https://www.livemint.com/politics/policy/a-third-of-skilled-youth-in-india-jobless-official-survey-1565161972818.html">reported</a>. While roughly 6% received informal training on job skills, self-learning, etc. Pass percentage As per the recent developments, as many as 1.5 million people have gained skills and jobs under the country’s Skill India mission. However, it is only 21% of the total trainees — 7.2 million — who enrolled for the programme. Adding to the trouble, nearly half of the youth that is trained is not employed, as per the PLFS data. Approximately three in every five skilled women were recorded as unemployed. This clearly indicates an alarming rate of unemployment in India. Globally, nearly <a href="https://news.un.org/en/story/2019/07/1042421">73 million</a> young people are unemployed, with 40 million joining the labour market each year. And, that calls for the need to create 475 million new jobs over the next decade, according to the United Nations. <div type="twitter" handle="UN" handlename="United Nations" image="http://pbs.twimg.com/profile_images/950749155575541760/MZoiVs3G_normal.jpg" favoritecount="621" retweetcount="354" status="Young people are almost 3 times more likely to be unemployed than adults. On Monday's World Youth Skills Day, learn… https://t.co/vxtwr9yW7V" createdat="1563141720000" id="1150525880369762304"></div>

 In a bid to boost employment in the country, the government announced industry relevant skill training for <a href="https://www.businessinsider.in/skill-india-mission-employment-rate-is-too-low/articleshow/70459576.cms">10 million youth</a> during the budget speech. The focus will be on building skills in technologies like — Artificial Intelligence, Big Data, Virtual Reality, 3D printing and Robotics — to promote higher remuneration. See also: <a href="https://www.businessinsider.in/skill-india-mission-employment-rate-is-too-low/articleshow/70459576.cms">Only one in five people trained under government's Skill India Mission found jobs</a> <a href="https://www.businessinsider.in/goa-will-reserve-4-in-every-5-private-jobs-for-locals-making-it-the-third-indian-state-to-crackdown-on-migration/articleshow/70476187.cms">Goa will reserve 4 in every 5 private jobs for locals-- making it the third Indian state to crackdown on migration</a> <a href="https://www.businessinsider.in/urbanclap-partners-with-national-skill-development-corporation/articleshow/70229453.cms">Urbanclap to become Skill India certified, will create a million micro-entrepreneurs in the country</a>

Nearly 93% of the population in India lacks vocational and technical skills: Report

<ul><li>From boardroom participation to inclusive policies, India Inc is stepping up its efforts to recognise women at the workplace. </li><li>The Indian law mandates maternity benefits to <keyword id="6482204" type="UNKNOWN" weightage="20" keywordseo="FEMALE-EMPLOYEES">female employees</keyword> at the time of childbirth, under the Maternity Benefit Act, 1961. </li><li>However, there are a few companies, including tech giants like <keyword id="6370971" type="COMPANY" weightage="20" keywordseo="accenture">Accenture</keyword>, Tata Consultancy Services (<keyword id="6357150" type="DOMAIN" weightage="20" keywordseo="tcs">TCS</keyword>) and <keyword id="6358384" type="COMPANY" weightage="20" keywordseo="SAP">SAP</keyword> — that have gone beyond the basics. </li><li>Here are the five companies that extend adoption and paternity leave.</li></ul>From boardroom participation to inclusive policies, India Inc is stepping up its efforts to recognise women at the workplace. The Indian law mandates maternity benefits to women employees at the time of childbirth, under the Maternity Benefit Act, 1961. The maternity act is applicable to all companies employing over 10 people. Yet too many women continue to drop out of the workforce mid-career due to childcare and family responsibilities. “Organizations across sectors have taken conscious steps to create an enabling environment for women as well creating the right infrastructure at the workplace to support the growth of women. The gender parity has improved significantly, with 28% organizations not differentiating between male and female apprentices. There is still a long path to walk, but the ecosystem is definitely getting more conducive and encouraging,” told Sumit Kumar, Vice President at <keyword id="8169255" type="LOCATION" weightage="20" keywordseo="NETAP">NETAP</keyword>, TeamLease. However, there are a few companies, including tech giants like Accenture, Tata Consultancy Services (TCS) and SAP — that have gone beyond the basics.

Accenture, TCS and other top tech giants that extend adoption leaves to its female employees

<ul><li>According to the United Nations, women constitute merely 14% of the total 280,000 scientists, engineers and technologists in research development institutions in India. </li><li>Despite the ground-breaking research and performance, women in the field of STEM are known to be paid less for their research work compared to men — not progressing as much in their careers. </li><li>In a bid to ‘recruit, retain and promote’ <keyword id="4244406" type="PERSON" weightage="20" keywordseo="women-in-stem">women in STEM</keyword> areas, the ministry of science and technology said that it will now rank higher education institutions — on gender equality.</li></ul>As India is digitally transforming at a rapid pace, the demand for technologically competent employee base is growing. For that, the country could turn inward instead of outward to plug the gap. As many as<a href="https://www.science.org.au/supporting-science/international-representation/association-academies-and-societies-sciences-asia"> 40% of Indians who graduate</a> in science, technology, engineering and maths (STEM) disciplines are women. Neither the graduates nor the country is gaining much from it though, it seems like. Women constitute merely 14% of the total 280,000 scientists, engineers and technologists in research development institutions in India, according to the <a href="https://www.unwomen.org/en/news/in-focus/international-day-of-women-and-girls-in-science">United Nations</a>. This is despite their women-centric initiatives. 
	<div type="twitter" handle="NorbertElekes" handlename="Norbert Elekes" image="http://pbs.twimg.com/profile_images/1148447760464646144/WJbazf0m_normal.jpg" favoritecount="504" retweetcount="253" status="Employed researchers who are women: 🇦🇷ARG: 53% 🇳🇿NZL: 52% 🇲🇾MAL: 48% 🇮🇩IDN: 46% 🇿🇦RSA: 45% 🇪🇸ESP: 40% 🇷🇺RUS: 40%… https://t.co/4exN4DnGr0" createdat="1581479916000" id="1227441850895695873"></div>



 “While girls enrolling in science for higher studies in India has seen an increase, the number of women entering the workplace is not in the same proportion,” the UN said. This is a global problem. Women represent a minority in the world of science at a mere 30%; and only 35% of the STEM students are women. India however is a paradox where it has graduates but not researchers. “We need a dedicated strategy not only for increasing the representation of women in the talent pipeline for STEM jobs, but also for ensuring that they thrive, incentivizing them to remain in these high-paying jobs and institutionalizing organizational cultures that enable women to advance in these fields,” Phumzile Mlambo-Ngcuka, Under-Secretary-General of the United Nations and Executive Director of UN Women <a href="https://www.unwomen.org/en/news/stories/2020/2/statement-ed-phumzile-international-day-of-women-and-girls-in-science">said on the International Day of Women and Girls in Science</a> on February 11. Less published work, less pay One of the major reasons for the low participation is the gender pay gap. Despite the ground-breaking research and performance, women in the field of STEM are known to be paid less for their research work compared to men — not progressing as much in their careers thereby. “Girls are often made to believe they are not smart enough for STEM, or that boys and men have natural affinity for the field,” UN countered. It also said that the women in the field publish fewer research papers across the world. Here too, India is an exception. A recent study published in ‘<a href="https://www.downtoearth.org.in/news/science-technology/gender-balance-in-scientific-research-improving-in-india-study-63313">Journal of Informetrics</a>’ said that one in three research papers published in India, was written by a female author — in over 186 fields as per the scopus database. In fact, in subjects such as dentistry, psychology and humanities, women were almost at par with men with one female author for every two male authors. India’s push for women in science and research It is possible that women might be getting little recognition and lesser pay in spite of these achievements - encouraging fewer women to come into the field. Women constitute merely 15% of faculty positions in science. In the research programmes, women account for a third of the PhD awardees. Not just in STEM but India has a long way to go before they attain gender parity across fields and industries. According to the <a href="https://www.weforum.org/reports/gender-gap-2020-report-100-years-pay-equality">World Economic Forum Gender Gap Report</a>, it will take 257 years to eliminate the prevailing gender gap in the workforce, globally. India ranks 112th in the Global Gender Gap Index in 2020. Therefore, the universities are now striving to achieve something that has been taken for granted for long — <a href="https://www.businessinsider.in/careers/news/iits-and-nits-will-now-be-ranked-on-how-many-women-they-educate-and-employ/articleshow/73296855.cms">gender parity</a>. In January 2020, the ministry of science and technology said that it will now rank institutions — on gender equality, <a href="https://timesofindia.indiatimes.com/india/top-institutes-will-now-be-graded-on-gender-equality/articleshow/73283922.cms">according to </a>the Times of India report. And these ranks will be for those offering STEM courses. As many as 20 Indian institutions — including Indian Institutes of Technology (IITs) and National Institutes of Science (NITs) — have joined hands to facilitate it. The government aims to rope in over 90 institutions as a part of the new grading system. “This will definitely give a much needed thrust to the inclusion of women in academia. However a key challenge will be to define the terms of how institutions will effectively measure gender equality. They should not merely execute gender equality on paper, rather it should ensure inclusion in education and employment,” Neeti Sharma, VP, TeamLease Services told Business Insider. See also: <a href="https://www.businessinsider.in/careers/news/iits-and-nits-will-now-be-ranked-on-how-many-women-they-educate-and-employ/articleshow/73296855.cms">IITs and NITs will now be ranked on how many women they educate and employ</a> <a href="https://www.businessinsider.in/careers/news/tech-mahindra-wipro-and-dr-reddys-labs-on-bloomberg-gender-equality-index/articleshow/73515898.cms">Tech Mahindra, Wipro and Dr Reddy’s Labs — only 3 Indian companies made it to Bloomberg Gender Equality Index</a> <a href="https://www.businessinsider.in/indias-it-sector-has-nearly-three-times-more-males-in-the-workforce-than-females-report/articleshow/69858324.cms">India’s IT sector has nearly three times more males than females: Report</a>

India tops the world in producing female graduates in STEM but ranks 19th in employing them

<ul><li>Indian states including Gujarat, Uttar Pradesh and Madhya Pradesh have suspended several <keyword id="176311" type="PERSON" weightage="20" keywordseo="labour-laws">labour laws</keyword> including <keyword id="85252" type="PERSON" weightage="20" keywordseo="Minimum-wages">minimum wages</keyword>. </li><li>However, the idea does not resonate well with the experts. </li><li>It will only exacerbate the conditions of low wage workers and the way we do business and industry,” said <keyword id="6419840" type="PERSON" weightage="20" keywordseo="Azim-Premji">Azim Premji</keyword>, the founder of Wipro. </li><li>In fact, this might push more women out of the workforce — which will further drop the Female Labour Force Participation in the country. </li></ul>Indian states including Gujarat, Uttar Pradesh and Madhya Pradesh have suspended several labour laws including minimum wages. Of these, at least 10 states introduced amendments to the Factories Act — increasing the daily working hours from 8 to 12 hours. The <keyword id="176732" type="COMPANY" weightage="20" keywordseo="State-governments">state governments</keyword> said that diluting these laws will attract more foreign direct investments as well as local investments post COVID crisis. However, the idea does not resonate well with the experts. “It was shocking to hear that various state governments, encouraged by businesses, are considering suspending — or have already suspended — many of the labour laws that protect workers. It will only exacerbate the conditions of low wage workers and the way we do business and industry,” <a href="https://www.bloomberg.com/news/articles/2020-05-16/billionaire-defends-workers-rights-as-indian-states-dilute-laws?utm_source=dlvr.it&amp;utm_medium=twitter">said</a> Azim Premji, business tycoon and the founder of Wipro. “The migrant workers we find fending for themselves and their families have almost no social security and too little — not too much — <keyword id="9244630" type="UNKNOWN" weightage="20" keywordseo="worker-protection">worker protection</keyword>,” he added. After a notice from the Allahabad High Court on hearing a plea from the UP Workers Front, the UP government also pulled back the order to increase the daily working hours. However, this makes no change to the key labour laws that have been suspended for three years. <div type="image" title="workers" msid="75818115" hostid="261"></div> According to <keyword id="118657" type="PERSON" weightage="20" keywordseo="Gurcharan-Das">Gurcharan Das</keyword>, a renowned author and the former CEO of Procter and Gamble India, and <keyword id="55796" type="PERSON" weightage="20" keywordseo="Kiran-Mazumdar-Shaw">Kiran Mazumdar Shaw</keyword>, Executive Chairperson of Biocon, the country needs a model that protects workers — that can help the workers with some protection when they lose their job — before doing away with the labour laws. There is a need for creating an unemployment Welfare Fund for labour that is funded by the employers and government,” Shaw said in a tweet. <div type="twitter" handle="kiranshaw" handlename="Kiran Mazumdar Shaw" image="http://pbs.twimg.com/profile_images/815537398444654592/o67mUQoz_normal.jpg" favoritecount="2987" retweetcount="758" status="Has the stimulus package missed an opportunity to provide a minimum basic income for the vulnerable informal labour… https://t.co/S2DgSCX9C5" createdat="1589684640000" id="1261854957050814465"></div> <div type="twitter" handle="kiranshaw" handlename="Kiran Mazumdar Shaw" image="http://pbs.twimg.com/profile_images/815537398444654592/o67mUQoz_normal.jpg" favoritecount="177" retweetcount="40" status="India’s ‘labour reforms’ need these three safety nets⁠— or else the people will be exposed to exploitation | Busine… https://t.co/wB95q7UVhA" createdat="1589685220000" id="1261857390946734080"></div> Impact on female workforce In fact, on the gender employability front, this might push more women out of the workforce — which will further drop the Female Labour Force Participation in the country — which has already been falling for two decades. “Be it agriculture or manufacturing, there is already a decline in women’s participation. Women are employed in textiles or food processing, services, hospitality, which will take longer to revive. Only as domestic workers, their work might not see a decline. But even there, their wages will have to co-relate with middle-class household incomes as many households will make cuts or reduce their work to only physically-intensive tasks such as cleaning,” Neetha N, director of the Centre for Women’s Development Studies <a href="https://economictimes.indiatimes.com/news/politics-and-nation/women-to-bear-brunt-of-new-labour-laws-experts/articleshow/75794353.cms">told</a> ET. 44 labour laws to be compressed Meanwhile, the government of India is set to introduce several initiatives for the welfare of workers including universalization of minimum wages, implementing national floor wage to eliminate the regional disparity in wages and more. The Finance Minister Nirmala Sitharaman recently announced that 44 labour laws have been compressed into four codes, awaiting the approval of the Parliament and the Standing Committees. “Such an extreme measure may actually drive a shift in the workforce from the formal to the informal sector. If different states engage in regulatory competition, this could put pressure on systemic wages, hurting both the revenue and mark-ups of staffing companies,” according to a staffing report by Motilal Oswal Group, a financial services company. See also: <a href="https://www.businessinsider.in/careers/news/indian-women-dont-like-being-gig-workers/articleshow/75757460.cms">Indian women don’t like being gig workers ⁠— the potentially $455 billion industry has to woo them with fair pay to start with</a> <a href="https://www.businessinsider.in/india/news/from-minimum-wages-for-all-to-social-security-for-gig-workers-these-are-the-broad-outlines-of-upcoming-labour-reforms-in-india/articleshow/75733790.cms">From minimum wages for all to social security for gig workers ⁠— these are the broad outlines of upcoming ‘labour reforms’ in India</a> <a href="https://www.businessinsider.in/india/news/indias-top-lawyer-harish-salve-says-this-may-not-be-right-time-for-labour-reforms/articleshow/75528999.cms">India's top lawyer Harish Salve says this may not be right time for labour reforms</a>

Billionaires Azim Premji and Kiran Mazumdar Shaw argue against the labour ‘reforms’ in Indian states⁠— and they are not alone

<ul><li>India is the second largest market of freelance professionals in the world, after the United States. That accounts for nearly 15 million professionals in the country. </li><li>Despite the growth, women refrain from pursuing gig work. </li><li>That is majorly because of the gender disparity in terms of pay, flexibility and employment status. </li><li>There are at least two surveys that explain the lag in the labour reforms for women. </li></ul>India is the second largest market of freelance professionals in the world, after the United States. That accounts for nearly 15 million professionals in the country. In fact, as India Inc moves to evaluating an ‘alternative workforce model’ with <keyword id="7771650" type="UNKNOWN" weightage="20" keywordseo="gig-workers">gig workers</keyword> and freelancers, the demand is only going to rise. But despite the growth, women refrain from pursuing gig work. That is majorly because of the gender disparity in terms of pay, flexibility and employment status — that prevails in the <keyword id="3080230" type="PERSON" weightage="20" keywordseo="gig-economy">gig economy</keyword> as well. This also reflects in the <keyword id="4476046" type="COMPANY" weightage="20" keywordseo="female-labour">Female Labour</keyword> Force Participation Rate (FLPR) in India, which has been falling for two decades now. There are at least two surveys that explain the lag in the labour reforms for women. In 2018, a survey said that a third of women were disinterested in joining the gig economy due to the lack of job security and uncertainty on employment status. Pay parity still a concern In addition to this, they are being paid less, widening the gender parity. A research by <a href="https://www.orfonline.org/wp-content/uploads/2020/05/ORF_IssueBrief_359_GenderGig.pdf">Observer Research Foundation (ORF)</a> reiterates the data from TeamLease in India that said the gig economy added 40,000 women in 2019. But, they are making 10% less than men, especially the delivery executives. The same year, the <keyword id="119211" type="COMPANY" weightage="20" keywordseo="Ministry-of-labour">Ministry of Labour</keyword> and Employment proposed the Code on Social Security Bill, to offer social security benefits to gig workers. On those lines, Finance Minister <keyword id="129243" type="PERSON" weightage="20" keywordseo="Nirmala-Sitharaman">Nirmala Sitharaman</keyword> on May 14, said that social security schemes will now be extended to even gig and platform workers, the proposal is awaiting approval of the Parliament and the Standing Committees. It is important because food-tech and e-commerce players such as Uber, Ola, Zomato and Swiggy, account for nearly 90% of the total gig workers in India. On an average, women make an average of ₹15,000 to ₹30,000 per month in the emerging gig economy. “This could be attributed to their income being of the ‘distressed’ category. Consequently, as soon as conditions improve, women leave the workforce — this phenomenon is widely visible in India’s informal economy as well,” said the ORF report. Limited access to digital technologies That aside, the lag in the access to digital technologies is yet another hurdle to women’s participation in gig work. Despite the country’s push for digitisation, merely 16% women in India use mobile internet, as per the findings of the GSMA Mobile Gender Gap Report 2019. To overcome that, many companies offer their own devices to facilitate work. “The gig economy is here to stay and offers many ways for women to start and improve their careers. However, the problem in India is twofold: an inability to facilitate women’s movement into the workforce, and the perpetuation of structural and operational barriers promoting gendered division of gig work,” said the report. Future scope As per Deloitte data, nearly 80% of the organisations have less than 10% of their employees as gig workers, accounting majorly to <keyword id="2245174" type="PERSON" weightage="20" keywordseo="Contractual-staff">contractual staff</keyword>. India’s gig economy is projected at a market size of $455 billion over the next three years — which might increase even further with the new-found interest. “A large majority of this is expected to be contributed by the unorganised sector of the economy, as India Inc's adoption of gig workers remains nascent at best,” the Deloitte report said. See also: <a href="https://www.businessinsider.in/business/corporates/news/more-employees-at-capgemini-infosys-and-wipro-are-being-brought-back-to-offices-while-tcs-is-still-in-wait-and-watch-mode/articleshow/75691940.cms">More employees at Capgemini, Infosys, and Wipro are being brought back to offices while TCS is still in wait and watch mode</a> <a href="https://www.businessinsider.in/india/news/from-minimum-wages-for-all-to-social-security-for-gig-workers-these-are-the-broad-outlines-of-upcoming-labour-reforms-in-india/articleshow/75733790.cms">From minimum wages for all to social security for gig workers ⁠— these are the broad outlines of upcoming ‘labour reforms’ in India</a>

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