Chennai: AIADMK leader and former Tamil Nadu minister K. Pandiarajan on Thursday said he has taken a five year sabbatical from active politics and is now back as the Chairman of human resources firm Ma Foi group.
"It is an emotional homecoming for me," he told the media.
Pandiarajan, who was a Minister in the AIADMK government for nearly five years but lost the 2021 polls from Avadi, said: "I am continuing in the AIADMK party. But I will be away from active politics for next five years."
On his learnings from politics, he said he was able to meet officials from about 50 industries as a member of the GST Council and it gave him a macro perspective as well as contacts.
He also said states that go for "son of the soil" approach in reserving jobs will lose out on investments and job generation as the industries do not appreciate such moves.
"India should have a unified employment policy," Pandiarajan
The present DMK government headed by Chief Minister M.K.Stalin had made a poll promise of reserving jobs for people of the state.
In 1992, Pandiarajan had floated the Ma Foi and pioneered the concept of human resources outsourcing in the country.
Later, he sold majority stakes to The Netherlands-based company Vedior which was later acquired by Randstad.
On his business plans, he said that group company Ciel HR Services Private Ltd plans to come out with an initial public offer by 2023 end or 2024 beginning and he will be focusing on the business fully.
According to him, CIEL HR Services, floated in 2015, has the largest network in the industry with a presence in 40 locations.
"Now our focus will be on deepening our depth," he added.
CIEL was listed among the largest staffing companies in India, at 14th place by revenues, as per the report published in February 2021 by Staffing Industry Analyst (SIA).
Pandiarajan said based on the research of Indian Staffing Federation, the market size of temporary staffing in India is about 4 million.
The market continues to remain fragmented and just a handful of firms have a national presence, he said.
Reforms in labour laws are underway and slated to reduce complexities for companies to use contract employees.