New labour codes are welcome. They are a crucial first step in untangling the regulatory maze that constricts the Indian economy

The issue of factor market reforms — in particular, land and labour — has been at the heart of policy debates in India for decades. In its first term, the NDA government had taken a stab at land reform. On Friday, it pushed ahead with the equally contentious labour market reform, notifying the implementation of the four labour codes, five years after they were passed by Parliament. The new codes, which replace 29 existing laws, seek to modernise labour market regulations, ease the compliance burden, widen the security net for workers, including for gig and platform workers, and encourage formalisation. They also seek to boost female labour force participation and bring fixed-term employees on parity with permanent employees. This marks a welcome transition to a simpler and more predictable