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Expatriate Assignment - Indias Emerging Market

Also, India's "Labour market efficiency" category of the The Global Competitiveness Report 2014 ranked 112th out of 144 states.
             2.1. Main Features of India's Labour Market.
             High informal employment is one of salient features in India. According to Srija & Shirke (2014), more than 90% of informal workforce work as self-employed and casual workers. Especially, there was a massive increase, around 50 million, in the numbers of the self-employed. The unorganized sectors have low productivity and offer lower wages to informal workers. It contributed 57% of India's GDP (Kulsreshtha 2011). Additionally, the trend is the growing rate of informal employment even in organized segments (Srija & Shirke 2014).
             Labour market in India is relatively rigid and over-regulated given the availability of multiple laws governing the area (Hasegawa & Noronha 2009). Saha (2006) stated that labour laws, their enforcement, regulation and trade union practices has created a belief about the lower flexibility. Lower flexibility means a greater cost of employment. This may induce shareholders to leave or hire fewer employees. Nevertheless, India government tend to substitute pro-worker labour laws for social security programs and shift the welfare burden on to firms. Vocational training is another characteristic. About 90% of skilled-based jobs demand the vocational training. Nearly 80 million jobs will be provided over the next five years and approximately 75% to 90% of employment will need vocational training (Chandra 2011). The government adopted a National Skills Development Policy to conduct skills development strategies of all stakeholders. Also, the National Skill Development Corporation has made some progress in skill formation targeted, particularly at the large unorganized sector. Around 266,000 workers have obtained training from their training centres (Danish Trade Union Council for International Development Cooperation 2014).


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