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In the First Chapter, it has been found that Foreign Direct Investments are able to make the balance sheet strong while raising company assets, business profits, and labor productivity also increases. The income per capita and tax revenues increase, and improve consumption as well as government spending. Thus, according to the context of India, this research shed light on the major issues of the labor regimes and the labor industry of India, and also how they can be mitigated with the help of other countries establishing FDIs. This research report is based on secondary qualitative data collection methods which play a very important role in identifying the impact of FDI in India for labor regimes, FDI makes a huge impact on the computer hardware sector and the computer software sector in India.From the research, it is conveyed that sincethe economic reforms came into existence, the Indian government initiated campaigns to attract foreign investors.
Table of Contents
1.1 Background
1.2 Problem Statement
1.3 Rationale
1.4 Aims and Objectives
1.5 Research Questions
1.6 Research Significance
1.7 Research Structure
Chapter 2: Literature Review
2.1 Local labor regimes in India
2.2 Influence of labor industry on the economic growth of India
2.3 Indian labor laws and its importance
2.4 FDI policies and Current trends in Indian industries
2.5 Role of FDI on Indian businesses
2.6 Impact of FDI on the labor regimes in India
2.7 Theoretical framework
2.7.1 Philanthropic Theory
2.7.1 Policing Theory
2.8 conceptual framework
2.9 literature gap
Chapter 3: Methodology
3.1 Research approach (Inductive)
3.2 Research design
3.3 Research philosophy
3.4 Data collection
3.5 Data analysis
3.6 Timeline
Chapter 4: Results and Findings
4.1 Secondary qualitative data collection
Chapter 5: Discussion
5.1 Secondary qualitative data analysis
Chapter 6: Conclusion
6.1 Conclusion
6.2 linking with objectives
6.3 recommendations
6.4 research limitations
6.5 future scope
Bibliography
“Foreign Direct Investments (FDI)” is also known as a “cross-border investment”, where investor residents of a particular economy establish a long-term interest and also aim to influence the market conditions of a certain enterprise resident in a different economy or country. On the other hand, labor regimes are conglomerations, which specify the working conditions in a country related to the labor industry (Hatzopouloset al. 2018, p. 160). The assemblages may include the materials, tools, and infrastructure used for work, along with the working spaces, timings, food availability and services, the state of social reproduction, and the policies of labor penalties and rewards. In this context, India being a global, fastest-growing economy, is now considered the top country for the FDIs (Statista.com, 2022).
Figure 1.1.1: Foreign Direct Investment Equity inflows to India
(Source: Statista, 2022)
India is also home to a huge consumer base, with increasing disposable incomes and the best place for doing business, and this is the major driver for the growing global preference for investing in the country. As per the above figure, Singapore made the most “FDI equity inflow” to India, in F.Y. 2021, with a value of over 129 billion rupees, the second in line being the United States with approximately 102 billion rupees (Statista.com, 2022). Singapore maintained the title of leading FDI source of India for the last 3 F.Y.s consecutively, which amounted to around 30% of the total FDI inflows of India in F.Y. 2020.
This research is majorly based on the role and impact of FDI or “Foreign Direct Investments” in the case of the domestic labor regimes of India and how they have been influenced by the labor laws and the existing FDI policies that are applied currently (Ketteni and Constantina. 2019, p. 420). In this context, the main problem that has been found, is the meager quality of the Indian labor force due to the lack of working opportunities and the low-quality resources available for the industry, to work within the country for the local companies.
Considering how India has recovered its economy back to the pre-pandemic situations and the GDP levels being more than that of the value in 2019 and 2020, it can be said that the industries have gained back their powers. GDP growth for FY 2021-22 is 8.7% and is 1.5% higher than the GDP of FY 2019-20 (Ibef.org, 2022). However, the major issue, in this case, is the labor regimes of the country, which might not be appropriate for working comfortably or are not according to the labor welfare requirements. Indian laborers are mostly divided among the agricultural sector, industrial sectors, and the service sectors, and there is a need to maintain their health and safety, with proper working conditions and advantages.
Figure 1.2.1: India's GDP
(Source: Ibef.org, 2022)
As for the reason why this is an issue, this could be the impact of the unavailability of proper resources, technology for working effortlessly, skills, and training sources, along with the industry lacking the appropriate expertise. Furthermore, with the emergence and the aftermath of the Covid-19 pandemic, this is an issue now,since situations got worse, and many laborers needed to leave their jobs due to the absence of risk resilience and support for continuing work and operations (Khanna, 2020, p. 186). These impacts and issues can be further reduced with the help of FDIs since India is one of the countries to have a large and strong labor force, which can be useful for major foreign companies.
Finally, considering the impact of the issue on India would be negative due to the loss of the efficient workforce who are not able to either work or get the deserving wage for their hard work due to the lack of resources to support their needs. In this case, FDI can make the balance sheet strong while raising company assets, business profits, and labor productivity also increases (Korolet al. 2022, p. 225). The income per capita and tax revenues increase, and improve consumption as well as government spending. Thus, according to the context of India, this research shed light on the major issues of the labor regimes and the labor industry of India, and also how they can be mitigated with the help of other countries establishing FDIs.
This research aims to derive the impact of “Foreign Direct Investment” or FDI on the local labor regimes, in the case of India, and the roles of FDI policies on the Indian industries and businesses.
Objectives;
1. What are the aspects of the Indian local labor regimes and how does the labor market influence the economy?
2. What are the relevant Indian laws, FDI policies, and recent trends that are active in India?
3. Is there a role played by “Foreign Direct Investment” that impacts Indian businesses?
4. How is “Foreign Direct Investment” impactful on the local labor regimes in India?
This research paper is significant considering the relevance of the application of FDIs in the country and the labor force of India, so as to improve the working conditions, wage system, and also the resources for efficient working. This research has catered to the policies of FDI, the labor laws exercised in the country, the recent trends, and their role of them in the businesses of India, as well as their impacts. Thus, the research is significant considering the fact that it highlights the importance of FDIs in the current economy of India and how it can be used to develop the labor industries throughout all sectors.
Figure 1.7.1: Structure of Research
(Source: Self-created)
The Labor regime in India mentions that businesses economizing India and millions of workers are here and almost are incorporated. Workers in the Indian industry or sector are appointed directly by the companies or by the contractors. The local laborers are appointed locally through the unorganized factory gates where the recruitment notice is hanging or the verbally open out word of vacancies. Contractors recruit laborers through notice, advertisement, or by word verbally. As per the view of Jonathan Pattenden (2018, p. 1045), generally, most laborers are not sourced out of their native places in India. The laborers in India are working in the unorganized sectors but on the contrary, other workers who are working in the organized or formal sectors mention the licensed company or industries in India that are registered and give taxes to the Indian government. There are 3 systems of law for local labor in India employment regulation, collective bargaining regulation, and common law. These are produced over centuries by court judges in various cases handled with employment contracts and the Indian parliament advanced 4 labor codes in the period 2019 & 2020 (Phenomenal world, 2022). These codes combine 44 presenting labor laws and Indian labor laws mentioned to laws controlling labor in India. The government ensures high-level protection for workers and their overtime discourages them from the total remuneration they get. The recruiting factor of labor is dependent on three major factors such as recruiting through agencies, recruiting through the employee company directly, and through an informal personal connection. There are some programs run by the government such as “The National Council of Vocational Training (NCVT)” which provide various training programs for skill enhancement. From a survey recorded by “International Labor Organization (ILO)”, it is evident that there are major recruiting differences between the north and the south. As per Muduli and Trivedi (2020, p. 1620), the aspect of recruiting through agencies in northern states is comparatively higher than in the southern states. On the other hand, southern states prefer recruiting directly through companies rather than through personal connection aspect.
Figure 4: Wage chart and growth
(Source: legacyias.com, 2022)
It is found that recruiting through personal connections is more preferred in northern states as compared to the southern part. From various surveys conducted by ILO, it is found that there are drawbacks to the traditional method of hiring. Recruiting through traditional methods has failed in the aspect of cost-effectiveness. On the other hand, it is also evident that traditional methods are very time-consuming (Chan et al. 2022,p. 450). In the modern world, time is an essential aspect for any individual or business. Instead of implementing traditional methods, businesses should approach the modern method of online advertisement which is very quick as well as cost-efficient.
Labor acts for the human being in manufacturing the goods and assists in the economic growth of a nation. Labor, employability, natural resources, and capital are four necessary things in the manufacturing of goods and favors in an economy. As per the view of Tomizawa, (2020, p. 35), the labor’s quality and quantity separate supply is an essential item in determining the economical growth and economical level of production. An important side of the labor vendor is made by their unique skills and all types of people's abilities. These talents could be changed and built up by training and education and by using skills constructively and by training the laborers to reach new demands in the industry market to support the manufacturing process more efficiently. People with jobs, businesses, and looking jobs searching for employees are well-known in the labor market. Labor services and business workers’ services determine the salaries paid to workers, the total number of workers employed, and the wages. The economic environment is affected by financial factors such as crowds, natural resources, power resources, capital-output ratio, the extent of the market, technological advancement, occupational structure, and investing pattern. The economic environment is playing an important factor in the economic development of India and its impacts on the labor industry increase the value of the goods or market. Due to this reason, the labor industry impacts the economic growth of India effectively. The availability of natural funds and their proper application are studied as important roles in the economic development of India. India’s population is studied as an essential determinant of financial growth in India and this population is working both as a refresher and a burden to economical growth. At first, population gives the labor and employability as essential factors of service.
According to economists, it was very obvious that labors are related to the economic growth of a country whether the ones who practice agriculture or modern businesses. It is also found that the more the laborers start moving from agricultural activities to modern businesses the more it is effective for economic growth. Some modernized agricultural methods can be implemented by laborers to be a part of economic growth (Shahbazet al. 2018, p. 1967). Though the methods are effective it is not right to neglect the fact that industrial activities are still a major factor in economic growth.
Figure 5: Economic growth of India
(Source: RaboSearch, 2022)
In order to make most of the profit from foreign investments, the businesses implement reliable training programs and campaigns to enhance labor skills. This skill enhancement process would pace the business’ growth and in turn the economic growth of the country. Developing countries such as India tend to spend a lesser workforce in low-productivity businesses (Tomizawa et al. 2020, p. 12). It is evident that this excessive workforce is employed in modern businesses that have high productivity. This excessive workforce in turn influences the economic growth of the business as well as the country.
There are several laws on labor in India to protect the workers and major labor law in India is The Minimum wages law 1948, The trade union act 1926, The industrial disputes law 1947, The payment of remuneration act 1936, and The factories act 1948. The Indian parliament drives four labor codes in the period of 2019 and 2020 and these codes combine 44 existing labor acts and approximately 29 major labor laws (labour, 2021) The newest labor laws reduced the in-hand salary of the workers by leveling up the HRA such as PF categories of the remuneration structure. Besides that, article 14 new labor act extends working hours to half-day and impartiality before the act which is explained in labor laws as “Equal pay for Equal work”. There are some special cases in it about labor acts such as capability, skilled and unskilled labors shall get remuneration according to the quantity of their work. Minimum wages law 1948 came in India when the nation got its freedom recently and then remuneration was low and versatile in every part of India. It is produced to bring justice and equality to the sweat laborers. Pay settling experts were led by the ‘fair wage committee’ who are identifying the issues with salary roubles in organized industries. An inspector gives an important part and is given certain rights as per the Payment of Remuneration Act, 1936. This act explains the rules that control the recruitment of inspectors, their integrity, and various other rules about them.
Labor reforms are very essential as it implements a legalized concern to accelerate businesses and inter-employment bonds that outcome a successful business. It is also responsible for the structure that would help the workforce to interact with their representatives for work-related concerns. It also initiates the procedures for enforcing certain rights of the workforce. Some labor laws such as the “Code on Social Security, 2020” was implemented for organizing various departments such as the department organizing provident fund, insurance policies for employees, board for unorganized workers, etc. The “Industrial relations Code, 2020” came into existence for settling the issues of employer flexibility, employment based on fixed-term, etc. The provision enabled employers to employ the workforce for a fixed term based on written contracts on earnings and benefits of social security (Roychowdhury, Anamitra, 2019, p. 131).
Figure 6: Labor Laws
(Source: IAS Parliament, 2021)
The labor reforms that have been implemented in India have failed to achieve their objective. It is also evident that most of the workforce in the congenial sector is working with inadequate communal security. The regulations stated in the reforms are found to be inflexible (Sjåfjell, Beate, 2020, p. 183). This inflexibility has often led to degrading some Indian firms. On the other hand, some of the regulations often argue to encourage investments in finances at the price of labor.
Foreign investment is openly allowed in all sectors almost. Foreign direct investments have two routes - The government route and the automatic route. The foreign investor or a company in India does not need any approval from the Government or RBI of India for the financing. A person who stays outside of India or a company outside India can finance in India, relying upon the FDI policies of the Indian Government, but Indian companies can openly matter equity shares and preference shares under the valuation norms. Foreign funding in any form is strictly prohibited for a company or a pair firm or a single concern that is attached to engaging in the activities: Nidhi company or Real estate business or farmhouses making or agriculture or activities of plantation or business of chit fund or trafficking in Transferable Development Rights. It is specified that the Real estate construction business does not attach with the development of cities, construction of commercial premises, residential premises, and bridges or roads. According to the recent data on the Industrial policy of the department and promotion, India has reached the highest annual FDI investment of USD 83.57 billion in the 2021-22 financial year (rbi, 2022). India is quickly emerging as a certain country for foreign financing in the producing sector. Equity of FDI invested in manufacturing companies has risen by 76% in the 2021-22 financial year. The trends of Foreign Direct Investment in India are the support for its status among global investors.
Figure 2: Local labor regime of India
(Source: ibef.org, 2022)
In order to operate through the government route, the investors or the business require approval from the Indian government or the Reserve Bank of India (RBI). The FDI policies are inspected by “The Department of Industrial Policy & Promotion” of India regularly to ensure that it is very investor-friendly. In order to allure FDIs, the department has implemented a liberal policy to make it permitted under the automatic route (Nayyaret al. 2020, p. 390). In addition, the department tends to continuously take consultations from shareholders on the different segments of the FDI policies. The department processes actively for essential changes in the policies for rapid increment in FDIs. It also implements significant alterations in the policies to make them more rationalized and liberalized.
The industry trends that are emerging currently are the medication industry, fissionable technology, bio-engineering, information technology, artificial intelligence, etc. In order to increase the trading pace, India has found to incur a global mind because of the current trends. It is found that the country has targeted businesses that they can easily establish (Iqbal et al. 2018, p. 100). India is reaching heights in the bio-engineering and medication industries due to its newfound expertise.
FDI refers to "Foreign Direct Investment", it applies when a company takes over the control or ownership of a business entity which is located in another country. It plays a significant role in India's business industry, it helps to improve the company's infrastructure, increase employment and as well as increase the productivity of the company. FDI takes a huge responsibility in the time of the pandemic, according to the last foreign investment India recorded 81.72 billion in the year 2019. The FDI make an impact on Indian business culture by increasing the economy of India but there is an argument that occurred such, that it helps to economy rate. On the other hand, Sasmalet al. (2020, p. 787), stated that sometimes the economy may not be viable that is the foraging investors are preferred capital investments and which can be occurred risks to small businesses. According to Egbetundeet al. (2018, p. 7), FDI improves international trade, and India has a requirement to introduce newly launched products to foreign markets and increase business sales and achieve organizational goals this path is made easy with the help of foreign investors. On the other hand, Athreyeet al. (2021, p. 105)have mentioned another viewpoint that is when an Indian company invests capital in foreign markets the export cost is going higher than the investment cost, so it's very imperative when the money is set up for a particular foreign investment. According to Mohanty et al. 2019, p 3), FDI aims at the expansion of human resource capital by implementing articles of the workflow structure of a particular company. On the other hand, Athreyeet al. (2021, p. 105), have mentioned that sometimes the investments are making a negative impact on values in the business industry. These are some arguments created between different authors on the topic of "Foreign direct investment" in Indian impacts they concluded that there are some positive and negative sides present in this field and as well as for India.
Foreign Direct Investment is very essential for a business’s economic growth. The foreign cash tends to amplify the infrastructure of the business, raise productivity, most importantly increase employment. It also allows technology transfer, especially in the terms of various capital inputs that would not be gained by the means of financial management (Liang et al. 2021, p. 75). It could also work for the promotion of domestic input business. FDI makes a favorable condition for the economical development of India. The FDI policies have been changing regularly to maintain the regimes of politics and economics.
Figure 8: Benefits of FDIs
(Source: FDIIndia, 2021)
A very essential factor for businesses is the implementation of foreign exports. Exports would eventually lead to the aspect of promoting local products across the world. In order to develop a business, it needs modernized technology and a skilled workforce. FDI works as the bridge for admitting modernized technology and enhancing the skills of the workforce. FDI initiates an energetic environment and the breaking down of local monopolies as an outcome of the encouragement of international organizations. According to the most recent, FDI report published by “The Ministry of Commerce”, Indian businesses acquired 81.72 billion US dollars in FDI from the year 2020 to 2021. It is comparatively higher than that of 74.39 billion US dollars from the year 2019 to 2020 (Liang et al. 2021, p. 75).
FDI provides an important role in labor regimes in India it provides several kinds of job opportunities in the business field with different skilled manpower in the different service sectors. According to Singh and Shikha (2019, p. 45), “Foreign direct investment” creates many new jobs, and also builds some companies by the market investors for a particular target country, which creates opportunities for labors. These strategies bleed to build quality buying power and as well as its increase the economic growth of India. On the other hand, Kacani and Jolta (2020, p. 50), have mentioned another viewpoint such as, it sometimes creates risks in the workplace and increases insecurity in the job place, a bulk of work pressure may create disadvantages in the FDI process in India. As per Kacani and Jolta (2020, p. 50), the FDI in India has a positive impact on the labor recruitment process in foreign industry markets which is a good sign of FDI. On the other hand, Jagdish (2019, p. 2), FDI may effects or displacement of local business which is represent the profit of the organization that don't reinvest the profits back into the main or originated company. These are the arguments regarding the labor regimes of the "Foreign direct investment” in India.
Figure 1: FDI workflow in India solving unemployment Issues
(projectguru. in 2018)
This figure is reflected the impact of employment is occurred by FDI in India and the growth process from the year 1991 to 2016 and also 2% of GDP. The strategies show the improvement of unemployment issues to the solving structure of the and make a positive impact in India.
FDI made a major impact on the economical growth of the country. In the aspect of labor intensity, FDI proved for generating comparatively high employing potential in rural areas as compared to suburban areas. The study objects to providing elaborated findings on employment regularity. FDI-driven businesses are across most of the states such as Karnataka, Maharashtra, Tamil Nadu, and West Bengal. It eventually resulted in a rapid increase in labor jobs in the mentioned states. The businesses resulted in a sudden increase of 4 or 5% in the employment of about 15.6 lakh people approximately (Saikiaet al. 2020, p. 901). Some rural areas employed about 8 lakh persons approximately. Businesses established a comparatively high number of employment in small cities including the processing of manures, vehicle construction parts, fabric, and mineral products of non-metallic nature.
The FDI in India make a huge impact on the Indian business industry as well as solved the unemployment problems which occurred in India from the very begging. Labor welfare refers to social security and good environmental workflow. The labor welfare has one important theory which is Philanthropic Theory and it is related to the FDI laborregimes and every worker needs a quality workplace (byjusexamprep.com 2022). Removing the barriers in the work field which helps to make a positive impact on the labor regime. This theoretical framework must be needed in every Indian industry in the company business field.
The another theory applies to this research paper this topic such as Policing Theory refers to what is applied in any factory or any other industrial workplace which provides many opportunities to the head of the department of the workplace, its done by implementing labor work for some time of a long, by paing the unfair wages, unhygienic workplace no security impact for the workers, they are the disadvantages in FDI in India. According to Watson (2018, p.258), this is kind of a dominating theory which is applied in rural work areas and those workers are neglected by the higher authority of the workplace or the owner of the factories in India. Nowadays these problems are solved by the unfair work management system, which implements an upgraded and modern eco-friendly workplace all over India. These are the theories which are interrelated to each other and it is applied in India by FDI.
Figure: Conceptual framework
This literature review is focused on the previous discussion about the impact of FDI in India many aspects are overcome from their but some are important regarding employee satisfaction about FDI in India, try to discuss and focus on this research paper. The authors are focused on the total impact of the FDI in India which is appreciable and also this research paper is implementing the vast knowledge about the unemployment problems and the solving procedures help of FDI and that produce improving the economic structure. FDI plays a very important role in India and as well as the finding of some advantages and some disadvantages of FDI which helps to conduct further knowledge about the process or the impact of the FDI in India.
As the research is concerned with secondary data analysis, the approach for the proceedings of the research should be inductive. Inductive research can be defined as when a researcher proceeds with generalized data and ideas in the research. The inductive approach is based on observations and theories for a concerned topic (Varpioet al. 2020, p. 992). In this research study, the inductive approach initiates with knowing about the production, trading concerns, marketing strategies, leadership styles, or whole structure of the business. With the information about the key segments of the business, it would be advantageous to proceed with the research.
Direct foreign investment affects majorly the local labor regime such as raising the workforce, sometimes raising wage rates, skill developments of workers, etc. The research considers both the segments that are FDIs and local labor regimes parallelly. As per Malik (2019, p. 629) the research also induces the segments of the Special Economic Zone (SEZ) which influence intensive labor production. The skilled workforce of India is an attractive factor for the FDIs, though the labor reforms of India discourage green field FDIs. With all the information regarding the topic, the research proceeds further with the design and philosophy.
The concerned business research demands a descriptive way of research design. Descriptive research design can be defined as a type of research in which it objects to gaining data to chronologically define a procedure. The perspective provides an opportunity for a comprehensive understanding of the concerned topic (Abutabenjehet al. 2018, p. 240). The main advantage of this kind of research is that the required data that is gained is extremely descriptive and important. Precisely, it helps to answer the different queries regarding the topic specifically.
Descriptive research also allows the researcher to analyze the facts and come up with a convincing outcome. The research type is quick in surveys which in turn should be a time-efficient approach. The process makes it simpler for the researcher to make outcomes and proceed with the part of data analysis. It allows the researcher to provide a detailed and summarized description of the concerned topic (Kiger et al. 2020, p. 850). With this approach, the detailed description can be organized and simplified. The procedure helps the researcher to provide details about the essentiality without considering the fact of why the phenomenon happens. It is very effective for the analysis of conflicts and non-quantified ideas. The research findings can be used practically in times of decision-making.
The research demands an Interpretivism approach for the research philosophy. Interpretivism can be defined as the way when the research is concluded by observing the ideas among different segments socially. As an interpretive approach, the observation regarding the impact of FDI on Indian labor regimes is a major concern. The advantages and the conflicts can be categorized into various segments such as raising the workforce due to FDI, discouragement of green field FDIs due to Indian labor laws, dependent variables, etc (Ryan, Gemma, 2018, p. 46). From research, it has been found that sometimes certain norms of FDIs have been disagreed with by the workforce upon implementing such norms by the business. Such situations raise conflicts among the workforce and the business which is a huge setback due to FDI. It is also found that certain norms are debatable among some employees while others agree. The interpretivist approach of research philosophy would help the research to analyze the concept of FDI impact by comparing it with different segments.
The research for this topic is based on secondary data collection, which is the method of analyzing the qualitative data gathered by another researcher for another objective. The research aims to gather qualitative data that shows the impact on local labor regimes due to direct foreign investments (Dufouret al. 2019, p. 1690265). The required qualitative data for the research purpose are regimes for labor needs and employment systems, types and methods of foreign investments in India, etc.
The qualitative data also includes the laws that are concerned with labor’s interests such as “The Industrial Disputes Act, 1947”, “The Minimum Wages Act, 1948”, “The Factories Act, 1948”, “The Code on Wages, 2019”, “The Industrial Relations Code, 2020”, etc. The reforms are implemented to assure the welfare of the workers and in turn elevate economic growth. The key segments that are implemented in Foreign Direct Investment (FDI) such as Vertical FDI, Horizontal FDI, Platform FDI, and Conglomerate FDI. The segments often favor stimulating economic well-being, raising employment, developing human resources, emphasizing financial concerns, etc. The research would proceed further with the collected data on the grounds of the effect on local labor regimes by direct foreign investments (Bhattaraiet al. 2020, p. 56).
In this research, the data that has been gathered from previous research papers are provided on google scholar and ProQuest. The research data is authentic and worked as an aid to integrate the collected data. Various laws concerned with labor regimes are used for the research to understand the adverse effects. The labor regimes in India are often proven to be discouraging for some of the FDIs because some laws don’t favor them (Charaiaet al. 2020, p. 102). The data also suggests that the laborers are often not compensated for their overtime at work. The FDIs often lead to the economic growth of the business.
This research report is based on secondary qualitative data collection methods which play a very important role in identifying the impact of FDI in India for labor regimes, FDI makes a huge impact on the computer hardware sector and the computer software sector in India.Secondary qualitative data analysis is advantageous because it is very quick and requires fewer budgetary resources to operate. As data resources are readily available through different online platforms such as google scholar and proQuest. The data that the platforms provide are authentic and uploaded by renowned writers and researchers. It is also beneficial as it takes less research time and there is no need of providing any kind of momentums to study participants. The benefits also include the allowance to produce new insights from various previous research.
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Table 3.6.1: Timeline
(Source: Self Developed)
Theme 1: Importance of FDI in India for labor regimes
The FDI of India is based on 3 different kinds of investment policies such as Horizontal FDI, Conglomerate and Vertical. Due to FDI, the unemployment problems are solved in India, by providing different job opportunities, a quality working environment, and an increase in the manpower level and also it is possible to direct hire workers in the country with new plans. FDI make a positive impact by implementing the huge no of e employee in the different workplace according to their ability and it also helps to increase the economical factors of the company. FDI allow capital inputs and transfers the technology to the foreign market. According to Oya (2019 p. 240) employment help to grow the economical structure of the country of India and as well as provide vast aspects of foreign investments in Indian culture. FDI also helps to increase these aspects of the business on a global platform by providing capital according to the business strategies and productivity by increasing the job opportunities. It increases the interests of workers in different upgraded aspects of job environment, and strategies, by ensuring future opportunities for the workers, and ensuring about the workplace, due to these workers are invastes their income and e enhance the gain the nation’s adopting power. FDI also helps to increase human resources by quality training, the best technology and also by practices Singh and Shikha (2019, p. 45). Employees who know about human capital strategies by providing adequate skills of training that help to increase their knowledge about the work. Human resource management skills develops the new adequate plan for the company and as well as its transmit the knowledge that creates a rapid economic effect in the business and any field of the company in India. It makes a huge difference in every aspect of the economicstructure of the country India, in the year 2019 during the lockdown India make a record in growth in the economic impact of the country. It concluded that FDI all over makes a positive impact in continuing the growth of the economy of India.
Theme 2: Employment effect of FDI in India that is on Labor Regimes
These refer that enhancing the labor in the work field which gain effect through the policies of FDI. The FDI plays an important role in India and solves the unemployment issues, this also makes a positive result for the urban laborers who are suffer from domination from the higher management t of those factors. FDI solve the problems that they make many work sectors and make a team of the laborers who are neglected or get fewer opportunities from the workplace by this foreign investment they get the job according to their eligibility and according to their skill. Now workers are getting satisfied in the work field by upgraded technology, batter opportunities of life (Zhiyuan2018, p. 659). After FDI take a stop in India the workplaces are getting eco-friendly, perfect relationship maintenance in workplaces and also it's making a huge impact on the healthy lifestyle of the workers or the company labors. Now many Indian companies are making huge aspects in the foreign industrial markets due to huge capital investments from the FDI of India which is the best way to achieve the organizational impact on society and achieve their organizational goals. Overall it makes a positive impact on Indian business, economic and as well as employment process, India gets benefited from FDI and its investments towards to the market of India.
Figure 2: Industry workflows of the FDI in the country India
(projectguru.in 2018)
This structure is referring that the impact of the employees are recruited in the many aspects of India try according to their skills and ability, the progress mouth increased by 46 % after coming to the FDI (projectguru.in 2018). Employment also reduces the work pressure from the company or any organization cause together many workers do the effective work and produce effective and qualitative work. Quality human resource management also produces a positive impact on the labors, it trains them about the workflow of the company and which produces an achievement and satisfaction for the company.
Theme 3: Discussion of the Positive and negative impact of FDI on the labor market in India
The Foreign Direct Investments significance has risen up remarkably for the globalization process which gives huge chances for most developing nations to catch faster economic growth by investment and trade. FDI supports foreign investors to utilize their assets and supplies more effectively for host countries to get better technologies and attached to trade networks and international production.
There are some positive and negative impacts of FDI on the labor market in India (linkedin, 2020). The positive effects of FDI are Trade effects, management and government practice, competition level, spillover effects, and human capital contribution. Trade effects are FDI influences financial growth by increasing all productivity and enough resource used in the host nation. It increases the quantity of field of laborers engaged in the unorganized or organized sector and it raising the capital stock in India and thus rising the outcomes. Human capital contribution is FDI’s policies to capital for host nations is significant and it increases the laborers' workplace and reduces the unemployment in the organized country such as Indian’s employees can move to India from foreign. Local firms increase their productivity from foreign companies by learning. Spill-over effects are MNEs generally create a higher version of the technology, clean which is the main topic of foreigners' higher productivity. It generates the technological work field for the laborers in the organized country significantly. The competition level is FDI applies influences the competition level significantly in the organized country.
Theme 4: Impact of FDI on two backsliding models regarding labor regimes in India
Foreign Direct Investments are not only concerned with the country’s economic growth but also concerned with two parameters such as labor dependency and labor wages. FDIs are one of the major requirements for raising labor productivity. Eventually leads to long-term job growth and the outcome of increasing employment across the country. From the research, it is found that foreign investors are attracted to the Indian workforce as India possesses highly skilled labor. Despite the skills, some of the green field FDIs is discouraged due to some labor reforms in India.
Based on previous research it is found that FDIs raise the workforce but the business cannot cope sometimes because of dependency. The research includes the estimation of two backsliding models to estimate the gross impact of FDIs on labor regimes. The first backsliding model is included as a dependent parameter which is considered with the criteria of labor demand. The second backsliding model is the determination of the impact of FDIs in the Indian financial state regarding wages. It can be done by evaluating the effect of FDI on comprehensive facts in any business, for output control (Charaiaet al. 2020, p. 102).
Theme 1:
Foreign Direct Investment is a key factor in India for labor regimes. Foreign Direct Investment is a crucial origin of financing for India’s economic growth. Here are the various favors or benefits of foreign direct investment such as economic growth and job creation, ease of international trade, human capital development, tax incentives, resource transfer, and economic development stimulation. The economical fall down of covid-19 is turning the price of business in India but the latest pattern of governmental policies and the economical shift has got a big turn. This drove a favorable market for the financing of foreign capital in India to reestablish the labor regime. The cause for this turn has happened for Foreign Direct Investment in the labor regime of India described as the biggest open-minded in the world.
As per the view ofRonismita (2020, p. 1483), the Foreign Direct Investment system has priorities on asking foreign investors to invest in India around the world by assuring that the Indian government supports each investment. India has carried on to attract large investments, during the covid-19 situation and 22 billion valuations of direct investments entered in India, which are coming from the automatic route almost (oecd, 2020).
Figure 1: FDI flows on the effectiveness of labor health and economic policy measures
(Source: Oecd.org, 2020)
Foreign Direct Investment is a key factor in India for labor regimes. Foreign Direct Investment is a crucial origin of financing for India’s economic growth. Here are the various favors or benefits of foreign direct investment such as economic growth and job creation, ease of international trade, human capital development, tax incentives, resource transfer, and economic development stimulation. The economical fall down of covid-19 is turning the price of business in India but the latest pattern of governmental policies and the economical shift has got a big turn. This drove a favorable market for the financing of foreign capital in India to reestablish the labor regime. The cause for this turn has happened for Foreign Direct Investment in the labor regime of India described as the biggest open-minded in the world.
As per the view ofRonismita (2020, p. 1483), the Foreign Direct Investment system has priorities on asking foreign investors to invest in India around the world by assuring that the Indian government supports each investment. India has carried on to attract large investments, during the covid-19 situation and 22 billion valuations of direct investments entered in India, which are coming from the automatic route almost (oecd, 2020).
Foreign Direct Investment guides the endless growth of the Indian economy to develop the labor sectors and MNCs bring new technology to transfer to the Indian companies to develop their labor quality (lexology, 2022). FDI strengthens the annual ledger for raising the funds of the companies and due to this reason profit of the companies’ increases and labor efficiency increases too. FDI puts funding in the labor organizations and their economy belongs to the higher evolution mode. Foreign Direct Investment is also an essential part of India’s labor development strategies and its popularity around the world and positive output increasing India’s capital, labor employment, and productivity has made it crucial for developing labor productivity and quality (Velut et al. 2022, p. 551). Foreign Direct Investment has donated successfully to the overall growth of the economy in recent times in India and FDI affluence has a huge importance on India to transfer innovative ideas and new technologies from the MNCs in the labor industry to grow the labor quality and their financial growth.
Theme 2:
FDI provides various job opportunities for unskilled and skilled manpower in the labor service sector that produces the manufacturing sectors. FDI also supports increasing output in the production unit in the labor sectors which helps to lower labor’s employment and enhance their financial condition because FDI influences the trends of employment of laborers’ (aplustopper, 2022). Labor employment generation and their economic growth and evolution are related directly as they increase financial activities. FDI can influence the employment situation in India, first of all, they set up new industries or affiliates and then hire the lower and skilled laborers. Multinational enterprises can help the employment generation straightly and the multinational enterprises can act on employment generation through advanced technologies in India. FDI comes with the latest production strategies and opportunities for new employment for laborers which impact the economic growth of those companies (ijrte, 2020). Thus the FDI affluence gives a great impact on the Indian Economy by producing employment that is partly admissible because Foreign Direct Investment also decreases unemployment indirectly in India (researchgate, 2020).
Figure 2: FDI’s inflows in India for employment of labor
(Source: businesstoday.in, 2021)
The inflow of Foreign Direct Investment on employment fluctuates time by time and the dividing FDI inflow in the Indian sector wise are the agriculture sector, service sector, and construction sector. Among these sectors, most of the manufacturing units required advanced technologies and labor power, and in the agriculture sector, Foreign Direct Investment inflows give direct and indirect job opportunities for skilled or unskilled labor in India. As per the view of Sanjaya Kumar (2019, p. 625), almost 60% of the population of India is attached to agriculture and skilled laborers in them can seek job opportunities in the new agriculture industries to develop their financial condition. The expectation of the Indian Government of more employment creation in these sectors is high fully through Foreign Direct Investment. The Indian government mechanizes and modernizes the agriculture sectors then FDI funds here to rise the employment chances in the primary sector of the agriculture industry.
Theme 3
Foreign Direct Investment is funding in the shape of a managing possession in a business in India by an organization based in a foreign country. The value of Foreign Direct Investments has climbed up effectively for the globalization methods which give great opportunities for growing countries such as India to get faster economic growth of labor industry along with investment and trade. The substance of Foreign Direct Investment has grown significantly because FDI brings new technologies into the market, and trade networks, and gets attached to international production (Kalaitzake, 2022, p. 615). Foreign Direct Investment supports outside country's investors in using their assets and materials more effectively in the labor market in India. FDI comes in dollars in the Indian economy and climbs up the demands of skilled labor that increasing the price rise in the economy. FDI helps the local government to enlarge the economy needed for revenue growth so that the local government can raise their laborers with directed programs through different campaigns or vocational training centers. The local currency’s demand can be powered up by the local’s purchasing power so that the assets of the local citizens are rising up in high frequency. There are positive impacts of FDI on the economy in India such as foreign direct investment in the Indian economy supporting the local labor market to construct it more competitive. As per the view of Waqih (2019, p. 475), FDI enhances economic growth by arising total factory productivity and the planning of supplies used in the labor market of India. It grows the asset fund of India and develops the output levels but India can not fund huge investments to develop the infrastructure on its own in the power and construction industries. The fund should be raised from foreign countries which have vast foreign exchange.
Theme 4:
It is conveyed that there are many advantages of FDI such as stimulating the aspect of Economic development. Countries set a target of economic development annually, and in order to achieve the goal they form new policies. FDIs are one of the policies that would aid a country to reach its target of economic development. It also forms the aspect of easy international exports that would eventually result in promoting local products to the global market. The advantages also include employment elevation as the investors set new businesses in the country resulting in an increase in employment (Siddiqui et al. 2018, p. 1200). Tax incentives are also a major advantage as the parent business would intend to give FDI to get more proficiency, products, and technology. It also provides an opportunity to exchange wisdom that is related to various business approaches. The countries gain access to enhanced skills and new technologies.
There are major disadvantages of FDIs such as obstruction to local investment. As FDIs focus on investing in other countries, it often leads to obstruction of investment in the investor’s home country. The aspect of change in political regulations in the target country is a serious concern (Siddiqui et al. 2018, p. 1200).
This research paper is based on the impact of FDI on the local labor regime in India, this makes a huge change in Indian business market development. This whole paper is concluded that the FDI make important steps in the growth of the Indian economic structure the quality of employment and boosts the skilled workers who are suitable for the particular work field. The research paper is focused on the full process of foreign investments, aims and objectives, the contribution of FDI in solving the issues of unemployment, how Indian economic structure get improved in the time of the pandemic, try to find out authors’ opinions about the contribution of FDI. Thus it can be concluded from the research study that FDI has a positive impact on the labor regimes in India. The theoretical analysis, the rules and regulations about the FDI in India, the future opportunities of the upcoming business generations and how rural labor are get facilitated by the “Foreign Direct Investment” in India. After the implementation of this FDI process in India, job opportunities are getting vast, FDI implements many job sectors, helps to build companies, and advertises Indian companies in foreign countries. FDI implement the correct environment for skilled employees, improve human resource management, and as well as did betterment of workers' mental health. Some negative sides are also coming after this research, those small businesses are hampered due to big investments, risk factors are in huge capital investment, and the costs of the export are more than product value, facing risks for political party changes. Overall this FDI make positive changes in India and also India get benefited from them economic growth and as well as in employment aspect. The conclusion of the research is about how FDI made a huge change in the previous year and its make good and responsible effect on India in upcoming years India gets benefited in business developments, and employee’s satisfactions more effective in future.
Throughout this research paper, there are some positives and negatives impacted are overlapped here, by solving those issues FDI process is going in India smoothly and make more effectiveness in India. The problems are a kind of "economic non-viability" that happened due to a bulk of investment one at a time which creates a risk of loss (Buckley 2018, p. 200). A recommendation is to fix the problems to make a proper plan before inventing bulk foreign money at one time. Foreign investments are invested up to 49% which should be easily permitted in the work sectors and that attached many kinds of restrictions on employees and as well as on the owners of the company and it creates problems in the impact of it.
Recommendations are to make quality rules and regulations for workers' mental health and that increase the economic structure of India as well as the foreign investors (Fernandezet al. 2020, p. 205). Providing the same opportunities s to small business owners who implement different and upgraded ideas for a product and FDI can provide some efforts to the betterment of the Indian economy. These are the recommendations suggested for making another highlighted improvement of FDI on local labor in India.
This research paper is prepared based on secondary data collections and due to a lack of resources, this paper can't look after all the articles present on the internet. There are many journals and articles are present which need some special access and resources due to the lack of those keys this research paper access the free articles for the analysis. The research paper takes suggestions and analysis based on the most prominent authors who previously did vast research on this topic. These are some limitations faced due to lack of access and money resources for the research materials, but the paper tries to do all possible way and is filled with knowledgeable data on this topic.
This research paper is based on the topic of “Impact of Foreign Direct Investment on Local Labour Regimes in India", and this paper, clearly discusses the topic vastly, clarifies the impact of the FDI in India, and the research is done successfully with the help of quality materials. This paper gives a clear knowledge about the impact of FDI in India for local labor Regimes in India, also for further research it may provide adequate helps to learners and researchers also may be effective to them for further research on this topic.
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