March 14, 2002

    The Labour Minister Shri Sharad Yadav has denied that the government has declared any labour policy under the pressure of foreign investors. He told the Rajya Sabha in a written reply today that a need has been felt in the recent past to review / update various laws. She Yadav said that amendments to certain labour laws have become necessary in order to meet the emerging needs of the economy for higher productivity, competitiveness, higher level of investment including foreign investment and employment generation. He said that the Government is taking all necessary steps to safeguard the legitimate interests of workers while undertaking labour reforms. The Labour Minister said that the government does not discriminate between loss and profit making companies in so far as the foreign direct investment is concerned.