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Wage hikes may have temporary impact on staffing business in Karnataka and Delhi, says TeamLease

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Few states like Delhi have proposed to hike minimum wages for workers by as much as 37 percent. N Ravi Vishwanath, CFO of TeamLease Services, spoke to CNBC-TV18 about the impact of the move and what is expected from the other states.

Few states like Delhi have proposed to hike minimum wages for workers by as much as 37 percent. N Ravi Vishwanath, CFO of TeamLease Services, spoke to CNBC-TV18 about the impact of the move and what is expected from the other states.
Talking about Karnataka, he said, “It’s a stage where the minimum wage revision does not happen annually or at periodic intervals but happens once in three-four years.”
“So this was something that was expected but what was not expected was the percentage hike that the government had given in Karnataka,” Vishwanath added.
Talking about the other states, Vishwanath said, “In most other states the hikes are fairly periodical and at regular intervals which factor for inflationary adjustments.”
He further said that wage hikes may have temporary impact on their staffing business in Karnataka and Delhi.