MARGAO: While reacting to the minimum wages notification, the Goa Chamber of Commerce & Industry (GCCI) has urged for a balanced approach that takes into consideration the concerns of both workers and businesses.
Referring to the notification that was released by the State government recently, GCCI observed that the expected rates by the industry were lower than those notified.
“It was unusual to observe that the notified minimum wages for employment in Agriculture are also significantly higher than the ones proposed in the draft notification. We are in the process of evaluating the impact of this decision on our member businesses. Such a revision has the potential to create a substantial impact on wage costs, and we foresee that some sectors may experience challenges in adapting to this change, particularly in the short term,” said GCCI in a statement issued to the media.
It further pointed out that the revision has resulted in an increase of Rs 100 per day per worker from the existing basic wages.
“While this move reflects the government’s commitment towards enhancing the livelihoods of workers, it’s imperative to recognize the potential implications it might have on various sectors, primarily MSME’s especially on businesses within the Shops, Commercial Establishments, hotels, restaurants, and micro, small industries. The Micro and Small Industries will be affected due to this revision in minimum wages,” GCCI added.
GCCI also acknowledged and thanked the government for holding extensive consultations with Industry before announcing their decision to revise minimum wages.
“Specially the considering the objections/ suggestions made by GCCI before finalising the notification. We now look forward for a cohesive bond between the Govt and Industry to improve the Commercial and Industrial economy of Goa,” GCCI added.
“Collaborative efforts between government authorities, labour representatives and industry stakeholders are crucial to ensure that this wage revision doesn’t inadvertently burden businesses, hinder job creation, or disrupt economic growth. In the coming days, we will actively engage in discussions with our members and relevant stakeholders to better understand the implications and explore potential strategies for managing the increased wage costs. Ease of Doing business will be a priority on the list,” said GCCI.
“We remain committed to supporting our member businesses and advocating for solutions that strike a fair balance between the interests of workers and the viability of enterprises. As we navigate through this transition, our focus remains on sustaining a conducive environment for economic growth, job creation, and the overall well-being of our communities,” GCCI added further.
