NASSCOM's Call to Action on Karnataka's Local Employment Law
Wednesday, 17 July 2024, 09:50
NASSCOM's Stand on Karnataka's New Employment Legislation
NASSCOM, the leading IT industry body in India, has strongly criticized the implications of Karnataka's recently passed local employment law on technology companies and startups.
Impact on Tech Sector and Economy
The state's substantial digital talent pool, accounting for 25% of India's GDP, faces a potential exodus as the law could discourage investment and hinder sector growth.
- NASSCOM highlights the urgent need for the government to reassess the bill to avoid adverse effects on the state's tech ecosystem.
- The organization emphasizes the significance of nurturing local talent to sustain the industry's upward trajectory and contribute to national economic development.
The tech industry's stability and growth may hinge on the outcome of this legislative move.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.