Is 3 Months of Notice Period really required ?

Real Time Scenario:

If a person has resigned, 3 weeks is enough for handover. Whenever we are hunting for job recruiters prefer employee having shorter notice period 15days to 1 month, due to which opportunities are lost.

However same Employer will not release their employee within 1 month.

So, even if a employee accepts 3 month notice period, it will take 3 months again for the person replacing your position, and the handover is usually completed in not more than 3 weeks.

Don't you think this situation should change and a new governing law should be be bought in to change the notice period? I am sure everyone of you would have gone through this.

Let's get rid of this notice period part by helping me in signing this petition until it reaches the labour department so that they can bring a common notice period of 1 month across all the organisations.