MUMBAI: The World Trade Center Mumbai, in association with the All India Association of Industries (AIAI), hosted a high-impact seminar titled ” India’s New Labour Codes: Impact on Industries and employees” here today at World Trade Center Mumbai. The event brought together nearly 200 industry leaders, business executives, and HR professionals to understand the impact of the Labour Codes on businesses and MSMEs.

Speaking at the seminar, Suhas Basakhetre, Managing Director, Prompt Personnel Pvt. Ltd., stated, “enhancing the ease of doing business is the central objective of India’s labour law reforms. He noted that the earlier labour laws, many of which had been in force for decades, have now been comprehensively rationalised by consolidating 29 existing laws into four simplified labour codes.”

Highlighting the intent behind the reforms, Basakhetre said that the labour codes focus on simplification of laws, ease of compliance for employers, digitisation of processes, creation of a balanced and equitable framework for both employers and employees, and strengthening enforcement mechanisms

He further added that, “the entire compliance and enforcement ecosystem has now been digitised, significantly reducing regulatory complexity. Over 1,400 compliances have been streamlined to approximately 400, which is a major step towards improving the ease of doing business. The new labour codes aim to provide equal weightage to the interests of employers and employees, fostering a more transparent, efficient, and growth-oriented labour ecosystem.”

In his remark, Dr. Vijay Kalantri, President, All India Association of Industries and Chairman, World Trade Center Mumbai, said, “The consolidation of 29 existing labour laws into four unified labour codes is a landmark reform aimed at simplifying labour regulations, expanding worker protections, and improving predictability and clarity for employers.

“There would be greater job formalization and increased worker welfare, which would lead to potential job creation and increased consumption. These positives come with certain challenges, including higher wages and labour costs, more formalities, possible job insecurity, strained HR capacity, increased compliance workload, and short-term cost impacts. These reforms mark a decisive step towards building a more unified, resilient, and inclusive labour ecosystem, aligned with India’s vision of a Viksit Bharat 2047,” Dr. Kalantri stated

Yashashri Kulkarni, General Manager, Labour Law Compliance, Prompt Personnel Pvt. Ltd., highlighted key provisions under the Code on Wages, including the fixation of a National Floor Wage and the need for employers to realign and update their wage structures accordingly.

She further noted that this is the first time Indian labour legislation has formally defined emerging categories such as aggregators, gig workers, platform workers, and fixed-term employment, reflecting the evolving nature of the workforce. Referring to the Code on Social Security, Ms. Kulkarni pointed out that the EPF case deposit requirement has been significantly reduced from 75 per cent to 25 per cent of the estimated amount, while monetary penalties for non-compliance have been enhanced to strengthen enforcement.

She also highlighted important reforms under the Occupational Safety, Health and Working Conditions Code, including the introduction of a pan-India single licence regime, liberalisation of leave encashment provisions, and mandatory crèche facilities, all aimed at improving worker welfare while simplifying compliance for employers.

The seminar concluded with an engaging and interactive question-and-answer session. Priya Pansare, Director Trade and Investment Promotion, World Trade Center, Mumbai, Suhas Basakhetre, and Yashashri Kulkarni presented the vote of thanks by expressing their gratitude to and for the insightful seminar. 

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BENGALURU: LG India, a major consumer durable company and the world’s leading provider of innovative, customizable, and feature-packed Commercial Displays & Solutions, organized the Grand Tech Seminar on May 24, 2024. LG showcased its cutting-edge innovations at the seminar under the theme of REINVENT “INNOVATION” at Hilton Bengaluru Embassy, Manyata Business Park, Bengaluru.

At the Grand Tech Seminar, LG Electronics India showcased various products in the corporate, education, retail, aviation, and hospitality space. The products include 171 (21:9) Wide Format LG active LED All-in-one, LG MAGNIT All-in-One (136), LG CreateBoard, 110 Smart UHD Large Screen Signage Display, LG Software Solutions, and LG Hotel TV amongst others.

The Grand Tech Seminar aims to provide a live experience of LG’s world-class digital signage, LED display, and software solutions, all under one roof, for its customers, partners, system integrators, and the city’s many high-net-worth individuals (HNIs).

Mr. Hemendu Sinha, Senior VP & Business Head, Business Solutions, LG Electronics India, said, “At LG Electronics, innovation is at the heart of everything we do. Our goal is to continuously reinvent and push the boundaries of technology. At the Grand Tech Seminar, our focus is to demonstrate the practical applications of our solutions in real-world scenarios. This seminar is a testament to our commitment to providing cutting-edge technology and exceptional experiences to our valued customers, partners, and stakeholders.”

171 (21:9) Widescreen All-in-One LED Display

LG’s 171 (21:9) Widescreen LED Display series provides an immersive viewing experience with a wider screen than a standard 16:9 aspect ratio display. Its screen specialization helps display 21:9 content, including widescreen videoconferencing platforms with natural details. The built-in speakers ensure high-quality audio. This all-in-one package simplifies installation with an embedded controller and remote control operation. Maintenance is easy with front-accessible LED modules that can be quickly replaced using a magnetic tool. It also includes Office Meeting Mode, which easily configures meeting room details like the room number and current time. It also includes convenient features like automatic input switching, a presentation timer, and adjustable settings such as auto brightness and picture mode.

LG MAGNIT All-in-One Micro LED

LG MAGNIT’s Micro Pixel Pitch Technology delivers crystal-clear images with advanced LED chips for precise detail and color accuracy. The LAAA series modules form a large screen showcasing vibrant colors and clear night views. Enhanced by Chip Transfer and Surface Treatment Technology, LG MAGNIT ensures superb color uniformity and reduces distortion across wide viewing angles. Black Coating Technology provides deep, rich blacks, ideal for high-contrast content. The AI-powered Alpha 7 Intelligent Processor tailors display settings for each scene, delivering highly realistic and vivid images.

LG CreateBoard

LG CreateBoard is an educational tool designed to enhance classroom engagement with features like multi-touch detection for up to 40 points, lifelike touch experiences, and various interactive tools such as rulers, tables, and sticky notes. It simplifies resource management through easy import and export from Google Drive, OneDrive, and USB drives. It supports real-time sharing of up to nine screens via the LG CreateBoard Share app. Additionally, its Bluetooth connectivity allows seamless integration with devices like speakers, mouse, and keyboards, making it an ideal solution for schools, teachers, and students seeking a dynamic and engaging learning environment.

110 Smart UHD Large Screen Signage Display

The UM5K series UHD Large Screen Signage Display with LG webOS Platform offers immersive viewing with four times the resolution of Full HD and a brightness level of 500 nits for clear visibility in various indoor settings. LG’s webOS platform enhances user convenience with intuitive GUI and multitasking capabilities. Built-in speakers provide rich audio, eliminating the need for external speakers. With a slim design and minimal bezel, it offers a sophisticated look and supports Crestron Connected® for seamless integration and automated control. SuperSign Solutions offers intuitive content management for both on-premise and cloud environments.

LG Pro: Centric Hotel TV

LG Pro:Centric Hotel TV sets the hotels apart with advanced solutions that elevate guest experiences. These TVs provide a welcoming touch with multi-language welcome messages featuring attractive templates and customizable functions. LG Hotel TV Smart offers customizable tools to optimize the viewing experience, while IP-based programs deliver premium hotel services directly without requiring a set-top box. With LG Pro:Centric Hotel TV, you can enhance guest satisfaction and create memorable stays.

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During the seminar, FBS’s experts spoke about the role of income source diversification and leveraging principles to achieve financial goals. Attendees also had the opportunity to improve their knowledge of financial markets, Forex, CFD trading, risk management tactics, and financial market analysis, which are equally crucial for novice and experienced traders.

FBS’s unique approach to equipping traders with relevant trading tools and knowledge was evident throughout the seminar. The event was full of insights and free of charge, with a dynamic and interactive atmosphere created by FBS. Attendees had the opportunity to participate in giveaways and raffles, where lucky traders won an iPhone, bonus coupons for trading, and FBS merchandise kits.

“I was absolutely impressed with the quality of content and the speakers’ presentation skills. FBS’s commitment to transparency was evident throughout the seminar. I will use my lucky coupon to test the strategies covered at the event,” said Akeem Richard Ailoje, trader and FBS seminar guest.

Diego Lima, FBS Business Development Lead in the African Region, said, “Running our trading seminars in Nigeria, FBS follows our mission to create opportunities for traders worldwide, helping them enhance their knowledge and skills. The success of this seminar in Lagos inspires FBS to continue providing our traders with the tools and resources they need to succeed in the financial markets. We look forward to seeing even more participants in the future.”

FBS is steadily developing as one of the market’s most trusted brokers, with its traders numbering more than 27,000,000 and its partners exceeding 500,000 around the globe. FBS is also the Official Partner of Leicester City Football Club.

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