Jobs quota likely to hamper state's investment appeal

Jobs quota likely to hamper state's investment appeal

• By Staff Writer

Jobs quota likely to hamper state's investment appeal 

Haryana's proposal to reserve jobs in private companies for locals is a political move but is likely to lower he state's appeal as an investment destination.

A 75%quota for locals would discourage investors and dampen jobs creation in the state, said industry leaders and economists. This will hurt the manufacturing, retail, information technology, housing sectors. It may also prompt other states to implement similar policies, hurting labour mobility and creating an artificial shortage of talent.

''I don't agree with such a reservation policy,'' said R.C. Bhargava, Chairman of Maruti  Suzuki India Ltd, the country's largest carmaker. ''The confederation of Indian Industry (CII) has made a representation to the state saying that such a move will not make industries competitive and I agree with impact businesses, the state's industry-friendly image, slow investments and deteriorate the Ease of doing Businesss Ranking, '' said Sanjay Kapur, chairman, CII Haryana.