India, Nov. 22 -- The Union government on Friday announced the implementation of four labour codes passed by Parliament in 2019-20 meant to replace a welter of complex, British-era legislation, kicking off a set of reforms aimed at attracting investment, spurring job creation and making it easier for firms to hire and fire employees.

The new employment rules mark a continuation of recent regulatory reforms such as the rationalisation of the Goods and Services Tax, and the Income Tax Act, 2025, which have simplified the burden of compliance for consumers and businesses. They also mark the beginning of a new labour-market regime that creates a statutory backing for a national minimum wage for the first time, provide social-security benefit...