Quocent had the privilege to participate in a significant Industry Interaction where critical aspects of India’s latest employment and labour initiatives were discussed. The Government of India has sanctioned ₹2 Lakh Cr in the current budget and introduced the Employment Link Incentive (ELI) Scheme to foster employment growth, support the SME/MSME sectors, and strengthen the manufacturing industry. The scheme is structured as follows:
– Scheme A – Targeting first-time employers
– Scheme B – Focused on employment within the manufacturing sector
– Scheme C – Designed to incentivise existing employers
Additionally, in-depth discussions on Employees’ State Insurance Corporation (ESIC) and Employees’ Provident Fund Organization (EPFO) highlighted efforts to extend coverage and benefits to workers in the unorganised sectors. These initiatives underscore the government’s commitment to enhancing social security and improving employee welfare across industries.
The session also emphasised major labour law reforms aimed at simplifying compliance and encouraging greater workforce participation by women. These reforms are expected to facilitate smoother regulatory processes and drive inclusive growth in India’s evolving labour market.
As these initiatives move closer to implementation, we are keen to see the transformative impact they will have on businesses and employment nationwide.
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