NSE:QUESS management interview: #IndiaAt100 LIVE | The Labour Code For Manufacturing: What Changes For Jobs & Industry?
Business Today, 2026-08-21. Video: https://www.youtube.com/watch?v=QmeqLXU9ock
- Labor code rationalization: The consolidation of 29 central labor laws into 4 codes establishes universal minimum wages, expanded social security, and single digital pan-India licensing to reduce business compliance costs while offering workforce flexibility.
- Manufacturing GVA decline: Panelists highlighted that manufacturing's contribution to India's Gross Value Added has dropped from 16–17% to 14.3%, noting that capital-heavy schemes like PLI fail to adequately support labor-intensive job creation.
- Workforce informality concerns: With 90% of India's workforce remaining informal, speakers emphasized the urgent need for mandatory social protections—including pensions, life insurance, and maternity benefits—alongside clearly defined fixed-term employment terms.
- Employability and skills gap: Graduate employability and AI/ML readiness both remain below 50%, with 90% of the workforce educated only up to basic secondary level, leading to shortages in lucrative vocational trades like welding despite an overall surplus of labor.