Industrial Relations in India

2979 Words12 Pages
Future of Industrial Relations and Industrial Relations in Future : The Indian Scenario Devashis Rath and Snigdharani Misra Today, the Indian economy has opened up to face global competition and there is already a rush of foreign capital and industry into this country. This change in the economic environment has affected the entire gamut of structures, styles, and contents of all those who have a stake in the economic firmament of this country. This article by Devashis Rath and Snigdharani Misra analyses the effect of this change on the industrial relations scenario of our country and makes an attempt to put forth a possible futuristic model of industrial relations in the years to come. Devashis Rath is in the Human Resources Department of Indian Metals and Ferro Alloys, Bhubaneswar and Snigdharani Misra is a Ph.D. student in the PMIR Department of Utkal University, Bhubaneswar. The year 1991 heralded for the entire Indian subcontinent changes that were unprecedented and unheard of in post-independent India. Too many crucial economic decisions were pushed through the government by too few and too fast — decisions that had the greatest ever impact on the social, economic, industrial, political and even on the day-to-day life of the average Indian. There was a paradigm shift as depicted in Figure 1. From a CRP — controlled, regulated, and protected — economy, India made a shift to the LPG — liberal, privatized, and global economy. This paradigm shift had its greatest impact on the Indian industry. All of a sudden, it had to face four hard realities of this shift. They were: • First generation competition. • Second generation systems and procedures. • Third generation technologies and technical knowhow. • Fourth generation mindset. For long, the Indian industry had enjoyed the parental affection of the government under various
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