UP suspends major labour laws till 1000 days to attract investment

The Uttar Pradesh government has suspended most of its labour laws for three years to attract investment and help both existing and new industrial units. 

May 8, 2020 14:28 IST
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The Uttar Pradesh government has suspended most of its labour laws for three years to attract investment and help both existing and new industrial units. 

The move was undertaken during a recent state cabinet meeting, wherein it was decided to freeze major laws in favour of the industry for 1000 days to make Uttar Pradesh a favourable destination for investors.

UP to set up Japanese helpdesk 

The state government has also decided to set up a Japanese help desk to attract investment from Japanese companies and help them start their business in the state. 

The state MSME and Export Promotion minister Sidharth Nath Singh interacted with Japanese Ambassador to India Satoshi Suzuki through video conference after the amendment was made in the labour laws. 

He informed Japan’s Ambassador about the UP state government’s decision to set up the exclusive helpdesk to assist entrepreneurs from Japan. 

The desk will function under the supervision of KV Raju, the economic advisor of Chief Minister Yogi Adityanath.

During the interaction, Japan’s Ambassador to India Satoshi Suzuki displayed a keen interest in sectors like electronics, food processing, industrial parks, pharmaceutical, medical equipment and automobile. 

The Japanese government has created 2.2 billion dollar fund to help companies migrating from China.

Background 

The state of Uttar Pradesh took the decision of suspending majority of labours in the wake of economic distress caused due to COVID-19 lockdown. The Indian government had announced a 21-day nationwide lockdown on March 24, which was extended for the first time till May 3rd and then again till May 17 with some ease in restrictions. 

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