BRICS LABOUR TRENDS: INDIA’S PERSPECTIVE

The largest and fastest-developing nations join to form the BRICS Group, whose trade and economic exchanges have the potential to significantly impact global and regional growth. With a few of the strongest economies in the world, the BRICS nations are working constantly to maintain the stability of their labour marketplaces, expand job prospects for the populace, and advance inclusive, human-centred strategies built on the principle of decent work. The purpose of this study is to compare and analyse India’s labour market with that of the other BRICS countries. This study will delve into various aspects of the BRICS labour market, such as unemployment, employment, and labour force participation rates. Also, this paper offers a quantitative assessment of the labour market’s condition using the statistical data that is currently available. The study’s data were sourced from national statistics and the World Bank database maintained by international organisations. The study concludes that India’s labour market differs from other BRICS countries due to its demographic profile, high informal employment, skill development challenges, regulatory environment, and distinct policy approach. Understanding these differences is crucial for crafting targeted policies that address India’s specific labour market dynamics and contribute to sustainable commercial growth and expansion. According to discussions on labour market conditions, BRICS member countries adjust their labour regulations and procedures accordingly.