The passage of three key labour reform bills in Parliament would facilitate the expansion of establishments to create employment opportunities and help India become a preferred investment destination, industry body CII said.
Rajya Sabha on Wednesday passed by voice vote the three labour codes on industrial relations, social security and occupational safety. Lok Sabha passed these codes on Tuesday.
The move truly represents the big bang structural reforms which will go a long way towards improving the climate for both workers and industry, CII said.
The reforms, it said, promise to reset the entire regulatory framework to benefit millions of workers and provide enterprises with flexibility, transparency and clarity.
"We believe that these new legislations would facilitate the expansion of establishments to create employment opportunities and help India become a preferred investment destination," it added.
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