Universal Social Security, Its Portability Across Globe An Important Issue: Yadav

Universal social security and its portability across the world is an important issue that we must focus on, said the union minister for labour and employment, Bhupender Yadav on Monday. 

While visually addressing the L-20 inception meeting being held in Amritsar, he said that we need to collectively ensure that our workers are equipped with the skills and knowledge necessary to thrive in this dynamic environment. 

The minister said particularly the informal sector must be brought under the ambit of social security. "There has to be a sustainable mix of social insurance and social assistance schemes for social security," he added.

However, India’s ranking in the global gender gap report from World Economic Forum (WEF) is not as it should be but changes are afoot and several names are driving it. In the 2022 report, out of 146 countries, India is placed at 135 as the country scored 0.629.

Keeping in line with the vision of women power, Yadav said that women’s participation in the labour force has to be enhanced which would in turn lead to creation of equitable, inclusive and developed society.

The minister added that over the years, the G-20 and L-20 meetings have attempted to address the issues of labour market challenges through a variety of policy initiatives that have been widely agreed upon.

In addition, Yadav explained, "The emergence of digital technology and technological transformation have resulted in unprecedented changes in the world of work, including the rise of new forms of employment, digitalisation, the gig economy, skill deficits etc."

He asserted that L-20 under the aegis of G-20 chose very concrete and relevant themes such as universal social security, portability of social security fund, increasing women’s participation in labour force and future of work. 

Yadav said that he was sure that all the trade unions across G-20 countries will come out with actionable outcomes. 

The minister said, "Assumption of G-20 presidency by India is a landmark event and gives us the opportunity to deal with the challenges of the world in a collective manner."