CBSE - X - Economics - Globalisation and the Indian Economy
how would flexibility in labour laws hepl companies?
please give some exam tips also.
Recently companies have learnt to manage despite the labour law constraints; formal flexibility and improved compliance would help to attract more foreign direct investment particularly in the manufacturing sector.
The government allowed companies to ignore the labour laws instead of hiring workers on a regular basis. They hire labourers for short duration at low wage rate as well as to work overtime when there is more pressure to complete the work.
Existing companies, including MNC subsidiaries have learnt to manage the constraints in the labour market.
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