Challenges of skill shortage, regulatory complexities await new Labour Minister

As Dr. Mansukh Mandaviya assumes office as Union Minister of Labour and Employment, experts urge the ministry to address skill shortages across sectors like IT, EVs, and fintech. Despite initiatives like Skill India and the Production Linked Incentive (PLI) scheme, gaps in technical skills persist. \r

Viswanath PS of a talent company highlights the need for adaptive labour laws and improved training systems to enhance productivity. Regulatory complexities burden small businesses, with calls to expedite the new labour codes introduced in 2020 for simplification. \r

Additionally, the reliance on informal labor, lacking proper training and legal protections, poses challenges. Sekhar Garisa of foundit emphasizes formalizing informal employment and enhancing social security to create a more inclusive labor market.