An Overview of Labor Welfare Measures in India in Response to Globalization

Abstract

Globalization refers to complex economic networks of international competition, resource suppliers, and product markets. Most organizations achieve high performance within a complex and competitive global environment. Hence we can see it as a trend in which the economic, political, and cultural activities of people in different countries increasingly influence each other and become interdependent. With the change in the global labor market as a result of globalization, welfare measures are considered as a necessary investment that may save money in the long run and provide employers with a stable labor force. Labor welfare is part of social welfare both conceptually and operationally. It encompasses the state of well-being, happiness, satisfaction, conservation, and development of human resources. This article provides an overview of labor welfare in India.