PANAJI
Taking note of the ‘Minimum Wages’ notified by the State government recently, the Goa Chamber of Commerce and Industry (GCCI) has stated that the expected rates by the industry were lower than those notified.
“It was unusual to observe that the notified minimum wages for employment in agriculture are also significantly higher than the ones proposed in the draft notification. We are in the process of evaluating the impact of this decision on our member businesses. Such a revision has the potential to create a substantial impact on wage costs, and we foresee that some sectors may experience challenges in adapting to this change, particularly in the short term,” said GCCI.
The revision has resulted in an increase of Rs 100 from the existing basic wages. While this move reflects the government’s commitment towards enhancing the livelihoods of workers, it’s imperative to recognize the potential implications it might have on various sectors, primarily MSME’s especially on businesses within the shops, commercial establishments, hotels, restaurants, and micro, small industries. The micro and small industries will be affected due to this revision in minimum wages, felt GCCI.
Acknowledging that the government has held extensive consultations with industry before announcing their decision to revise minimum wages, especially for considering the objections/suggestions made by GCCI before finalising the notification, GCCI has hoped to have a cohesive bond between the government and industry to improve the commercial and industrial economy of Goa.
“We urge for a balanced approach that takes into consideration the concerns of both workers and businesses. Collaborative efforts between government authorities, labour representatives, and industry stakeholders are crucial to ensure that this wage revision doesn’t inadvertently burden businesses, hinder job creation, or disrupt economic growth,” said the GCCI press release.
It added that in the coming days, GCCI will actively engage in discussions with their members and relevant stakeholders to better understand the implications and explore potential strategies for managing the increased wage costs.
Stating that the ease of doing business will be a priority on the list, GCCI expressed its commitment for supporting the member businesses and advocating for solutions that strike a fair balance between the interests of workers and the viability of enterprises.
“As we navigate through this transition, our focus remains on sustaining a conducive environment for economic growth, job creation, and the overall well-being of our communities,” said GCCI.
