There is so much problem with this
Starting with the obvious
Labour laws are largely not implemented in India; now with the abolition of the law, workers will be paid less & demand will further collapse 1/n https://twitter.com/ShankarGopalak/status/1259367034418159616

- Now with this, businesses will pay starvation wages to workers

Assuming that businesses are forced to pay their workers bcoz of minimum wage is completely false. Heck, no one even knows what the minimum wage is in the state. Wages are largely defined by the market forces 2/

of supply & demand. Millions of workers are paid much more than minimum wages, is it bcoz of laws?
Talk to any entrepreneur and he will tell you how difficult it is to get a worker with the right skills or even laborers. How many times have we ever looked at minimum wage 3/

before paying laborers or any skilled workers. These laws have close to Zero impact on the ground, exist only as show-piece for politicians to virtue-signal that they care & ofcourse the monthly bribe
Case in point 4/ https://indianexpress.com/article/opinion/columns/india-lockdown-inter-state-migrant-workmen-act-6400710/lite/?__twitter_impression=true

- Weakening of labour law has lead to extreme poverty

Haha
Really? Remember the "prosperity" in the Indira Gandhi extreme socialist utopian era with the "best workers protection" law aka license, quota & raid raj.
There is abs consensus that real prosperity kicked in 5/

after 1991 economic reforms wherein we stopped stifling businesses with intricate laws. Maybe ask your grandparents what "extreme poverty" looked like in IG's era.

Lastly, if these laws have no real impact on the ground, what's the point of doing away with them 6/

This bid is in order to attract foreign companies who wish to shift from China to India. Ask anyone- why not invest in India? Bcoz it is the place of the world worst bureaucracy.

In order to attract companies, it is imp to create an ambience that signals that the state isn't 7/

hostile to business & investment, that it welcomes companies from abroad to establish their units here.
Ones in a millennium type opportunity shouldn't be missed

Forgot to add this- the dwindling demand problem isn't bcoz "workers are being paid starvation wages" but bcoz of a structural problem that is manifesting itself now-Agriculture sector

Agri sector employs half of the population but it's contribution is a meagre 15% to the GDP 9/

Without any significant reform, technology advancement or Agro diversity, agriculture has largely become a mechanized business without any innovation & with full support of the govt.

Solving this is the panacea to all our problems- part of it is to pull ppl to manufacturing sec