“We are very confident that as we engage with such modern technologies India will probably become a leader in the world in using these technologies, just like 20 years ago the IT industry took up this challenge and became a world leader,” he said. To a question on people losing jobs, Goyal said there was no empirical evidence or detailed evidence of workers losing jobs in a big way.
About codifying labour laws, the minister said, “The government is engaged with a very constructive dialogue with all trade union leaders and is trying to codify various laws relating to labour into a far more crisper, well defined, easy to navigate, understand and operate set of labour codes which are coming before the House in the near future.” He said the same was with the standing committee and would be taken up soon.
The minister also admitted that in many instances India has lost competitive advantage which it had for a variety of reasons. He assured the House that the government is addressing various concerns of the manufacturing sector. “We are in dialogue with the manufacturing industry through various chambers of industry. I can assure that the government is seized of the situation and would ensure that we address this issue.”
The Commerce minister said this is probably being one of the fastest rollback of taxes, particularly to encourage new manufacturing, after India has reduced its corporate tax drastically and a new manufacturing unit would have to pay only 15 per cent corporate tax. The new labour codes also provide opportunity for contractual labour engagement, he said.
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