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Indian employers’ delegate at Global Jobs Summit calls for effective international regulatory consensus

A leading Indian businessman said in order to tackle the global jobs crisis and coordinate development cooperation, the world would need to work together to arrive at regulatory consensus. Mr Yogendra Kr. Modi, Indian Advisor and Substitute Employers Delegate to the International Labour Conference, and Member of the ILO Governing Body, made the comments during a panel discussion at the ILC’s Global Jobs Summit in Geneva.

Type Audio
Date issued 16 June 2009
Regions and countries covered India
Unit responsible ILO Regional Office for Asia and the Pacific
Contact(s) Allan Dow, ILO Regional Office for Asia and Pacific (dow@ilo.org)
Subjects employers organizations, economic and social development
Download English - mp3 314 KB
Verbatim: The point I’m trying to make is that there should be consensus in the regulations in which everybody is talking about. I think there are two things important: one is that it should be consensus. Not that India has a different regulation, America has a different regulation, China is different, Brazil is different, or we’ll again wind up in the mess after five years. And second is that we do not need more regulations, we need the right regulations, intelligent regulations. If there are more regulations, the people who will be hit will be small and medium enterprise. The banks will not lend to them. Money will become scarce.
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