Industry calls for revamping dispute settlement mechanisam

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New Delhi, Sept 29 (UNI) Jolted by the recent murder of CEO of Indo-Italian Cerlikon Grazianos L K Chaudhry in the satellite town of Noida in Uttar Pradesh, Indian industry has called an urgent re-look at labour laws and the existing mechanism for dispute resolution between the management and the union in the country.

A quick survey of the Indian industry by Federation of Indian Chamber of Commerce and Industry (FICCI) said while there are rules and laws in place, "there is no respect for these among the trade unions as a result they tend to act irresponsibly with impunity".

Describing the lynching of the CEO as 'extremely serious' and 'unfortunate', several companies FICCI interacted with said this would force them to reconsider their long term plans.

Investments both by foreign and domestic investors in Uttar Pradesh would suffer, the survey report released today said, adding some company officials said this might even impact the general investment sentiment in the country.

Another survey finding said, industry representatives at all levels feel that nothing much has really been done by the UP administration except constituting a committee under a police officer to probe the murder.

This, said many, is clearly not enough to restore confidence among the investor community and industry officials. They want strict immediate action against offenders.

Respondents feel the there should be strict enforcement of law and order in the industrial areas.

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