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Time of India
6 days ago
- Business
- Time of India
Need to streamline policies to make India GCC hub: Official
Economic Affairs Secretary Anuradha Thakur said there needs to be a deliberation on the policies adopted by states like Karnataka, Tamil Nadu and Telangana, wherein most GCCs are localised and see if such policies can be emulated across the country. Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads Tired of too many ads? Remove Ads India needs to streamline policies at national level to make the country a hub for Global Capability Centres (GCC), a senior official said on Monday. Economic Affairs Secretary Anuradha Thakur said there needs to be a deliberation on the policies adopted by states like Karnataka, Tamil Nadu and Telangana, wherein most GCCs are localised and see if such policies can be emulated across the has about 1,800 GCCs, which are set up by MNCs as offshore facilities to manage their business contribute to the economy about 1.8 per cent of the total Gross Value Added (GVA) and the innovation in startup ecosystem has helped increase GCC presence in India, she said at the CII-GCC Business Summit."Even now GCCs are focused in particular states so we need to study what those states did earlier, whether it was Karnataka, Tamil Nadu, Telangana. We know those states have specific policies both on physical infrastructure and digital infrastructure, they also have certain regulatory policy initiatives which have helped GCCs there and grow further."Whether we need to disturb that, or add more is something that we need to do today, perhaps a bit of both," Thakur is currently focusing on becoming a hub for MNCs to set up their GCCs in the the 2025-26 Budget, Finance Minister Nirmala Sitharaman had announced formulating a national framework, which will guide states in promoting GCCs in tier II cities. "This will suggest measures for enhancing availability of talent and infrastructure, building-bye laws reforms, and mechanisms for collaboration with industry," Sitharaman had said as GCCs are now expanding to Tier 2 cities, there is a need to deliberate on the framework that is needed and also a Centre-state dialogue to expand GCCs Secretary said that many states have talented resources and having bulk of the GCCs could be competitive on cost."As more global players are going to be setting up shop, can there be more outreach to different countries to attract them to India," Thakur the same session, Union Labour Secretary Vandana Gurnani said, there is a huge scope for developing GCCs in India to promote employment opportunities for , youth unemployment rate is 13.3 per cent, whereas in India it is 10.2 per cent."Now this is where I think there is a huge scope of GCC and where we need to collectively mobilize together and do a lot of work," she said pointing out that youth unemployment rate has come down from 17.8 per cent in 2017-18 to 10.2 per highlighted the decent increase in the labour force participation rate, including for women and youth."I know for the IT sector, these (labour reforms or codes) are much required. These changes have already been made. So this is the way currently the work is progressing."While the codes are still coming into effect, she said the action has shifted to states and when they are making these reforms in the Acts and Rules, "we from the national level are supporting it to make sure that it works."She also informed that the ministry has started partnering with universities and educational institutions to set up education-to-employment career is one such lounge in the National Institute of Career Services at Noida, she stated adding that the ministry wants to expand this to almost all the universities in the said there are global collaborations for mobility of the workforce."We have partnerships as part of the G20 Skills Initiative. And we have bilateral agreements with certain countries including, for example, Japan and Germany for cross-border talent mobility. These agreements and these partnerships also could be leveraged for the work of the GCC," she added.
News18
09-07-2025
- Business
- News18
Bharat Bandh News Today Live Updates: Over 25 Crore Workers From Various Sectors To Go On Strike
Bharat Bandh On July 9th Live Updates: The trade unions and farmers' union have collectively called a nationwide strike- Bharat Bandh- for today, Wednesday, aiming to protest what the groups allege are 'pro-corporate and anti-worker' policies implemented by the Centre. More than 25 crore workers from various sectors are participating in the strike, causing major disruptions to banking, transportation, and other essential public services. The general strike has been called by a joint platform of 10 central trade unions and their affiliated organisations. They are protesting against labour law changes, rising privatisation, and worsening economic conditions in rural areas, which they claim are adversely affecting both workers and farmers. A key factor driving the strike is a 17-point charter of demands that was submitted last year to Union Labour Minister Mansukh Mandaviya. Here are the live updates:
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Business Standard
02-07-2025
- Business
- Business Standard
India may soon have social security agreement with UK under free trade pact
India may soon have a social security pact with the UK as an in-built component of the free trade agreement (FTA) which has been finalised between the two countries, a source said on Wednesday. The source said that from now onwards, the social security agreement (SSA) will be an in-built component of all free trade agreements to be negotiated in future. "UK is believed to have agreed on the social security component under the FTA negotiations, which would be ratified in the near future," the source said. The SSA, a reciprocal arrangement between two or more countries, ensures that an employee while on a foreign assignment does not have to contribute to the social security coverage fund in that country but get the full benefit of employment period for pension calculation, while the employers are saved from making double social security contributions on behalf of their workers. The Indian employees posted abroad or on foreign assignment are required to obtain a certificate of coverage (CoC) from retirement fund body EPFO, which helps them avoid paying social security contribution in countries where they are posted. The Employees Provident Fund Organisation (EPFO) has been authorised to issue the Certificate of Coverage to employees posted in nations that have signed an agreement with India. Union Labour Minister Mansukh Mandaviya told reporters here that he has requested the commerce ministry to include the SSA in all FTA negotiations in future. He said, "We are doing so to promote social security for all." At present, India has SSAs with 22 countries including Canada, Japan, Australia, Germany, Sweden and Brazil. The citizen of all 22 nations with which India has inked SSAs get the same benefit if they are posted in India. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
India Gazette
14-06-2025
- Politics
- India Gazette
Kalyana Karnataka is on path to progress: Deputy CM DK Shivakumar
Yadgir (Karnataka) [India], June 14 (ANI): Karnataka Deputy Chief Minister DK Shivakumar on Saturday hailed the contributions of MLAs, MPs and Ministers of the Congress government in putting 'Kalyana' Karnataka on the path to progress. Speaking after laying the foundation stone for various works under 'Arogya Avishkar' scheme, Shivakumar said, 'Power is temporary, but accomplishments are permanent. Hence, we have come here to thank our patrons. The people of the region have sent a big message to the country by electing the Congress government under the leadership of Mallikarjuna Kharge and Siddaramaiah.' 'We approved the five guarantees within five days of assuming office. Congress leaders from Kalyana Karnataka- Priyanka Kharge, Ajay Singh, Darshanapur, Dinesh Gundurao, Radhakrishna, B V Naik and MLAs from the district are taking the region towards prosperity,' he added. Shivakumar said that the government has developed the most advanced healthcare system in Kalyana Karnataka after Bengaluru. 'Our government has sent out a message of progress by developing Kalyana Karnataka. Our government is carrying out developmental works in the fields of education, health, roads, rural development, employment, etc. We have laid the foundation stone for various healthcare works worth Rs 416 crore. Our government has developed the most advanced healthcare system in Kalyana Karnataka after Bengaluru. Mallikarjuna Kharge has done a lot for this region when he was the Union Labour minister,' the Karnataka DyCM said. 'Congress party under the leadership of Mallikarjun Kharge, Manmohan Singh, Sonia Gandhi and Rahul Gandhi have a special status of 371J to the region. This has ensured that the districts of Kalyana Karnataka are more progressive than other districts,' DK Shivakumar added. He further said Congress president Mallikarjuna Kharge has come forward to provide social justice to backwards classes. 'Mallikarjuna Kharge has come forward to provide social justice to backwards classes and oppressed classes. In spite of the Opposition parties' criticism, we will continue to work for the backwards classes. We have announced the redoing of the caste census in this direction. I appeal to all to provide accurate details in the survey,' the Deputy CM said. 'Our Health Minister Dinesh Gundurao and Sharan Prakash Patil are doing revolutionary work in the field of healthcare. I appeal to you to support them in their mission,' he urged. (ANI)
Time of India
30-05-2025
- Business
- Time of India
India created 17 cr jobs in last decade: Mansukh Mandaviya
New Delhi: Union Labour Minister Mansukh Mandaviya on Friday said India has created 17 crore job opportunities in the last one decade compared to 4.5 crore employment in the preceding decade. The BJP came to power in 2014, and the UPA regime was from 2004 to 2014. Speaking at the CII Annual Business Summit 2025 , Mandaviya said the unemployment rate in the country is 3.2 per cent, which is around the same level in the developed world. Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The 18 Most Beautiful Hotel Swimming Pools You'll Wish You Could Dive Into! 12facts Click Here Undo It means employment is available because India has become an investment destination, he stated. "In the last decade, 17 crore job opportunities opened in India. Earlier in the previous decade, 4.5 crore jobs were created," he said. Live Events He further explained that India became an investment destination in the world because it is a transparent democracy and the judiciary is delivering justice based on merit. Besides, he stated that consumers' purchasing power is increasing in India and emerging as a big market. That is why global investors want to invest here in India, he pointed out. He said there would be an ' Education to Employment Lounge ' in every university in the country, which would be run by industry bodies, and logistics would be provided by the central government. "I will run the platform in collaboration with the government, industry bodies and universities. All youth will get job opportunities according to their qualification in this career lounge," he said. The minister stressed the need for skill development according to industry demand, saying that industry bodies like CII can help the government a lot in training people as well as share details about their requirements. He explained that according to the skill requirement of the industry, the universities or educational institutions will train the youth and certify them, which would eventually help them get jobs. The minister was of the view that job creation would help in reaping demographic dividends and achieving the ultimate goal of Viksit Bharat by 2047 when the nation will be celebrating 100 years of independence.
