Dear Dinesh
In addition to the above information given by our members, I would like to add some more.
Normally IR needs so much patience and more tolerance power to withstand any situation. One must be well aware of the Statutory compliances and other provisions available in the Law enacted by the State and Central Government.
One must have the ability to convince others in case of any dispute arises out of any issue. One who can take care of the welfare of the workers and employees of the organisation will have complete support of the workers/employees.
One must have good knowledge on Factories Act, Industrial Dispute Act, Trade Union Act, Minimum Wages Act, Payment of Wages Act, Gratuity Act, Bonus Act, Contract Labour Act, etc, so that in case of any subject related issues, one can easily resolve the same.