Regarding your query, I believe what's important is your own interest.
Assessing Your Interest in HR Specializations
First, you should ask yourself if you are interested in handling legal, IR, and labor welfare causes. If you have the aptitude and time for it, then you need to ensure you're in a job profile as an HR generalist where you can apply the learning. If your answer is yes to all of the above, then you should pursue Law, but remember it's a 5-year course. Once you make up your mind, keep your goal in mind and be prepared for the time commitment. Following this, your main industries will be those with a large concentration of blue-collar employees.
Exploring Other HR Specializations
However, if your interest as an HR generalist lies in the area of employee engagement, compensation/benefits, talent acquisition, OD, and employee life cycle, then you may consider a Diploma in Labor Laws and focus on working in a relevant job profile with training in the field of interest. Here, you have a wider range of industries and profiles you can handle. Moreover, the knowledge can be acquired through short-term courses as well.
Importance of a Diploma in Labor Laws
In any case, I believe an HR professional with any specialization should have at least a Diploma in Labor Laws because none of the areas can be operated independently without at least basic knowledge of the regulatory framework within which you are required to work.
The choice depends on your preference and ability to dedicate the required timeline. Best wishes for whichever field you choose.
Warm regards,
Deena Jagasia