India News | Industrial Disputes Act Amendment to Act as Deterrent: GSIA

Panaji, Aug 1 (PTI) The recent move by the Goa government to amend, Industrial Disputes Act, will deter investors from setting up industrial units in the state, according to Goa State Industries Association (GSIA).

GSIA during its virtual Annual General Meeting (AGM) held on Friday expressed concern over the treatment meted out to industrial players by the Goa government, even amid COVID-19 pandemic.

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Inspite of the fact that the economy of the State now largely depends on industrial sector, the government gives scant attention to the industries, GSIA President Vishwanath Kochrekar told reporters after the AGM.

Many members voiced their concern over introduction of the Industrial Disputes (Goa Amendment) Bill 2020.

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The amendment to Section 25F of the Act, which enhances the payment of compensation to workers from present 15 days of wages to 45 days of wages, will destroy Micro, Small & Medium Enterprises (MSME) sector in Goa, Kochrekar said.

The enhancing of compensation under Industrial Disputes Act, will be counterproductive to States plan to attract investment. It will deter investors from setting up industrial units in Goa, he commented.

"Why should an investor invest in Goa when the industrial law is much better in other States? This is the question which will worry many of the industrial units who had planned expansion of their facilities in Goa," he questioned.

During the AGM, Kochkar advised the entrepreneurs to learn to live with COVID-19 pandemic.

He said that industries must ensure that all the guidelines of the government and the SOP circulated by GSIA should be meticulously followed.

He warned that any concealment of positive cases will adversely affect the other workers, their families and will also affect industrial activity in the State.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)