Adopting ‘Flexicurity’ in Indian Labour Market

The term ‘flexicurity’ epitomize the evolution of labour market in Europe. In simple terms, it is a compromise between ‘flexibility’ and ‘security’ in the employment relationships. It is not a new concept in the era of globalization. It initially drew inference from the Dutch and Danish practices which combined labour market flexibility and security. The concept has been seen as beneficial where the social security system is developed along with ensuring a proper social protection and increasing the flexibility of the labor relations regulation. The need for such a policy arose owing to the conditions wherein the excluded categories, especially the unemployed, including women, require a bare minimum access to a secured work. The reason behind discussing such a concept that has its base in the European practices, is to identify whether such a blend of two opposites cater to the problem of social security in India with special emphasis on the unorganized sectors. The research has been set to analyze this European concept with reference to the Indian labour market and analyze to what extent is can it be held applicable. It would include the analysis of the theme, Flexicurity in its basic essence with respect to its origin in Europe. Thereafter, the research deals with the evaluation of the flexibility and security variables in the 19 European countries in order to understand the applicability and need of flexicurity in the countries. It also takes into considerations the drawbacks held while achieving the set aim of flexicurity. However, the main agenda would be to find whether the concept finds any relevancy with the Indian labour market and if it does, then to what extent can it be enforced in India.