OTHERS

Labour laws need review: SIMA chairman

Staff Reporter

COIMBATORE: The Chairman of Southern Indian Mills Association (SIMA), Vijay Venkataswamy on Monday called for a need to change outdated labour laws in the country to empower entrepreneurs compete in the global marketplace.

He said that outdated labour laws curtailed the freedom of industry.

"The countries with whom we compete have very high level of productivity, very flexible labour laws and very modern infrastructure."

While the Information technology and telecom industries have witnessed tremendous growth as they have fewer regulations, similar conditions needed to be created for other industries, he said.

"Government permission should not be required for any kind of rationalisation measures, including right sizing through retrenchment, lay-off and closures.

"Lack of such flexibility in Indian context may not create a conducive climate for investment and blunt our competitiveness," he said.

Inaugurating a two-day seminar on `Employment Laws' and `Managing Contract labour' organised by the Coimbatore Management Association in association with All India Management Association, he said: "Majority of retail firms who are sourcing from India are looking at few vendors for bulk orders and hence opting for vertically integrated companies."

Nithin Devaraaj, Head of Operations of L.G.Balakrishnan and Bros Ltd. was conferred with the CMA-DJ (Coimbatore Management Association- D.Jayavarthanavelu) Best Manager award.

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