International Journal of Research in Economics and Social Sciences (IJRESS) Available online at: http://euroasiapub.org Vol. 7 Issue 6, June- 2017, pp. 240~247 ISSN(o): 2249-7382 | Impact Factor: 6.939 | Thomson Reuters Researcher ID: L-5236-2015 International Journal of Research in Economics & Social Sciences Email id: editorijrim@gmail.com, http://www.euroasiapub.org (An open access scholarly, online, peer-reviewed, interdisciplinary, monthly, and fully refereed journals.) 240 Dz Emerging Strategies &Challenges of DzIndustrial Relationsdz in a Globalisational Indian scenariodz Dr. N. Thyagaraju Assistant Professor, Department of Commerce, Sri ABR Government Degree College, Repalle, Guntur Dt-524121.A.P. ABSTRACT The present paper Abstract covers the basic components of Industrial Relations, its Objectives ,Role of Industrial Relations, Indusrtrial Policy system, Industrial phases in Industrial Relations System , Present scenario of industrial relations in a century of knowledge management and technology. Industrial relations has become one of the most sensitive and complex problems of modern industrial society. The term ǮIndustrial Relationsǯ comprises of two terms: ǮIndustryǯ and ǮRelationsǯ. DzIndustrydz refers to Dzany productive activity in which an individual ȋor a group of individualsȌ is ȋareȌ engageddz. By DzRelationsdz means Dzthe relationships that exist within the industry between the employer and his workmen.dz. The Oxford Dictionary defines Industrial relations (IR) as the "interaction between employers, employees, and the government; and the institutions and associations through which such interactions are mediated." Industrial relations has three faces: science building, problem solving, and ethical. The term industrial relations is used to cover such aspects of Trade unionism, Collective Bargaining, Workers participation in Management, Discipline and Grievance handling, Industrial disputes and Interpretation of labour laws and rules and code of conduct. Industrial relations are the relationships between employees and employers within the organizational settings. Industrial relations involve attempts at arriving at solutions between the conflicting objectives and values between authority and industrial democracy; between bargaining and co-operation; and between conflicting interests of the individual, the group and the community. The main objectives of Industrial relations system are to safeguard the interest of labour and management by securing the highest level of mutual understanding and good-will among all those sections in the industry, To avoid industrial conflict or strife and develop harmonious relations, To raise productivity ,higher level of full employment, to establish and promote the growth of an industrial democracy based on labour partnership in the sharing of profits and of managerial decisions, to eliminate or minimize the number of strikes, lockouts and gheraos by providing reasonable wages, improved working conditions. Industrial relation encompasses all such factors that influence behavior of people at work. A few such important factors are Institution, Methods, Contents.It also covers the New Dimensions of Industrial Relation, Industrial relations of Today , Future strategies of industrial relations In india and majority of Research on Labour Relations is also going on in Indian industrial environment. *************