India to set statutory national floor wage after Delhi-NCR protests
India
After worker protests broke out in Delhi-NCR over new labor codes, the Indian government is moving quickly to set a statutory national floor wage rate.
With inflation climbing, partly because of global tensions, the plan is to make sure wages actually reflect what it costs to live in different regions.
Region-specific wages updated every 5 years
The upcoming wage structure aims to reflect the rising cost of living in each state, taking into account recent inflation spikes (like retail inflation at 3.4% and wholesale at 3.9%).
Under the new labor code, floor wages will be region-specific and updated every five years, so pay keeps up with real-world changes.