Press Information Bureau

Shri Bandaru Dattatraya, Minister of State (Independent Charge) for Labour & Employment, Government of India will participate in 105th International Labour Conference at International Labour Organization, Geneva, Switzerland to be held between June 7th and 9th June, 2016.

Shri Dattatraya along with Labour & Employment Ministers of Rajasthan, Haryana, Manipur and 8-Officials of the Ministry, 9-Union Labour Representatives and 9- Employers’ representatives would be participating in the 105th International Labour Conference being organized at Geneva by International Labour Organization. On June 7^th, The Hon’ble Minister would be participating in the plenary section of 105th International Labour Conference followed by Non-aligned Movement Ministerial Meeting (about 120 countries). In the Nonaligned meeting the Hon’ble Minister would be presenting the initiatives of the Govt. of India.

On June 8^th, there will be bilateral discussions with Hon’ble Minister for Labour, Cooperatives, Welfare of the Islamic Republic of Iran, Dr. Ali Rabiei, followed by meeting with Minister of Health, Labour and Welfare of Japan (Mr. Yasuhisa SHIOZAKI). On the same day, there would be Asian Pacific Group (ASPAG ) Ministerial Meeting(52 Countries) chaired by Shri Bandaru Dattatraya, Hon’ble Minister of State (IC) for Labour & Employment. The Hon’ble Minister will be hosting Reception for the ASPAG Ministers. The Hon’ble Minister would also be meeting the Labour Ministers G20 Countries. On June 9^th There would be world of work summit meet and the Hon’ble Minister would be participating in the panel discussion on the topic “Decent jobs for the Youth”. Followed by this there would be meeting with the Ministers of Brazil, Russia, India, China and South Africa (BRICS).

During the three day meetings, the discussions and decisions will be on supply chain problems in labour sector, demand supply of labour, labour migration. The Labour Minister would also show-case Make in India, Skill India, Digital India, Smart Cities Project in India and the need for local industries employment, Foreign Investments for balanced growth. The stress will be on employment with job security, wage security and social security to everyone. The challenges of social inclusion, inclusive development, present labour and employment scenario would be discussed. The aim of the discussion would be on qualitative labour and employment, information exchange, labour market formulization, and solution to the social problems and plan for strong, sustainable inclusive growth. International cooperation from ILO, World Bank and other International Bodies in specific areas would be urged. The best practices of India in labour and employment sector achieved in the ensuing two years would be highlighted.

Shri Dattatreya has also informed that Shri Narendra Modiji knows the problems of the downtrodden and labourers in detail. The Hon’ble Prime Minister has deliberated with the Qatar Government on the problems of Indian Labourers. He met the labourers working in Qatar and is the first Prime Minister to have his meal with them during his visit on June 05, 2016 and interacted with them, listened to their problems and assured of the best possible solutions.

The Minister observed that the labourers are from different parts of the country and also from Andhra Pradesh covering the districts of Srikakulam, Vizianagaram, Kadapa, etc. and from Telangana covering the districts of Karimnagar, Adilabad, Nizamabad, Mahabubnagar, etc. The Minister assured that Labour welfare is the highest priority of the Narendra Modiji’s Government and every step is taken in this aspect besides wage security, social security, job security.

The Hon’ble Minister has also stated that out of 1.15 Lakh Crore Corpus Fund in the year 2015-16, 5% has been invested in Exchange Traded Funds (ETFs). As on 31st March, 2016 amount of Rs.6577 Crore was invested in the stock markets and the return was Rs.6601 Crore which is up by 0.37% and also as on 30th April, 2016 the amount invested was Rs.6674 Crore and the return was Rs.6686 Crore which is up by 1.68%.

Previously the return on investments was negative and whereas the return is positive now. The Minister also stated that the performance of Investments in the ETFs will be discussed in the forthcoming meeting of the Central Board of Trustees (CBT) and to proceed further on the investments. The investments in Exchange Traded Funds (ETFs) are done in National Stock Exchange is 75% and in Bombay Stock Exchange is 25%. The Hon’ble Minister informed the Press that the paramount interest of labour and employment ministry is safety and security of the Corpus, good planning and safeguards maximize returns to the esteemed stakeholders with adequate safety net.

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