He said that Indian business is often faced with chaos and out of chaos comes creativity. He added that the cost per unit of output may often not be very low in India, but the cost per unit of innovation is! Ninth, the relationship between labour and management is being gradually rebalanced. It has certainly improved since the 1991 reform.
The recent data on strikes and number of working days lost bear testimony to the maturity and wisdom of all concerned. Often, the labour market is cited as a problem but many globally competitive Indian businesses do not seem to perceive it as an insurmountable one.