Is India set to become the new beauty destination for global brands?
The Indian beauty market is estimated to reach $2.27 billion by 2028, with a CAGR of 10.91% during the forecast period (2023-2028).
The Union Cabinet on Friday approved ratification of two fundamental conventions of the International Labour Organisation (ILO), which is a step in the direction of achieving the goal of eradication of child labour, said a cabinet communique.
The cabinet meeting, chaired by Prime Minister Narendra Modi, approved for ratification the ILO Convention No. 138 — Minimum Age Convention concerning minimum age for admission to employment and No. 182 — the Worst Forms of Child Labour Convention concerning prohibition and immediate action for elimination of the worst forms of child labour.
"The ratification of the Convention Nos 138 and 182 would be a step ahead in the direction of achieving the goal of eradication of child labour from the country, as it would be legal binding to comply with the provisions of the conventions," said the communique.
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"Presently, Convention 138 has been ratified by 169 countries and Convention 182 has been ratified by 180 countries. Hence, by ratifying these two core conventions, India would join majority of the countries who have adopted the legislation to prohibit and place severe restrictions on the employment and work of children," it added.
India is a founder member of the ILO, which came into existence in 1919. At present, the Organisation has 187 members.
The principal means of action in the ILO is setting up of international standards in the form of conventions, recommendations and protocol. India has so far ratified 45 Conventions, out of which 42 are in force.
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