India's Labour Reforms Expected to Create 77 Lakh New Jobs and Boost Formal Employment

Nov 25, 2025 02:56 pm CST

New labour codes in India could reduce unemployment by 1.3% and generate 77 lakh jobs according to a State Bank of India report. The reforms will increase formal workforce to 75.5%, improve social security coverage to 85%, and boost consumption by Rs 75,000 crore, significantly strengthening India's labour ecosystem and economic growth.