On Thursday, Prime Minister Narendra Modi emphasised the importance of making swift economic decisions and putting them into action to make sure that the nation doesn't miss out on the benefits of the fourth industrial revolution. When it came to utilising the benefits of the first, second, and third industrial revolutions, India lagged behind.
In his speech to the National Conference of Labour Ministers from all states and union territories via video conference, the Prime Minister declared that India will now, during the fourth industrial revolution, “Now at the time of the fourth industrial revolution, India will also have to take fast decisions and they will have to be implemented rapidly,”
The Prime Minister's remarks come at a time when the four labour codes that Parliament passed between August 2009 and September 2020 have not yet been put into effect since the states have not yet announced the final laws that will apply to them.
"The nation is now revising, reforming, and streamlining labour regulations," stated Modi. 29 labour regulations have been simplified into four straightforward labour codes in light of this. “ The codes will ensure the empowerment of workers via minimum wages, job security, social security and health security.” He added.