1st LD Writethru: Indian PM launches key labor reforms

Indian Prime Minister Narendra Modi Thursday unveiled key labor reforms aimed at easing business and turning this country into a manufacturing hub.

"The ease of business is essential to the success of Make in India initiative. Shramev Jayate (labor triumphs) has the same power as Satyamev Jayate (truth triumphs) does for the development of our nation," he said in the national capital.

Modi added: "Labor problems must be seen through the eyes of the shramik (worker) not industrialists. People must change their attitude towards those who do manual labor."

Some of the labor reforms include the minimum wage being raised to 15,000 rupees (300 U.S. dollars) from 6,500 rupees, and the minimum pension fixed at 1,000 rupees.

The reforms also intends to end the inspector raj or terror rule of inspectors that has grappled the industry for many years.

"Inspector Raj, we heard this since our childhood and we thought it is for policemen, only but then we realized it's a lot more," Modi said, adding that inspectors from now on won't be able to raid business units at their whims.

Moreover, each of 700,000 industrial units in the country will also get a unique Labour Identification Number. Endi