Bangkok: Thailand and Indonesia will sign a trade agreement in June focused on the auto sector, Thai commerce minister Porntiva Nakasai said, adding that a separate deal with India set for April may be delayed.
Thailand and Indonesia may join hands to find new markets and cut taxes for automobiles, she told reporters in Thailand, where South-East Asian leaders are meeting for an annual summit. Vehicle manufacturing in both countries took a hit from the global recession, Porntiva said.
Separately, she said India asked to change the content of a bilateral trade agreement set to be signed in April, which may lead to its postponement. The countries had originally agreed to lower tariffs on certain goods by June, she said.
Rural India has big share in services sector: study
New Delhi: Contrary to the popular and traditional perception that villages facilitate mainly agricultural activities, rural India also has a major contribution in the services sector, housing 60% of the total enterprises in the country, a study has said.
An estimated 16.5 million service sector enterprises were in operation in India during 2006-07. Of these enterprises, 60% (9.9 million) were in rural India and 40% (6.6 million) in urban area, the National Sample Survey Organization (NSSO) report released on Friday said.
More than half of the estimated 33.5 million people working in service sector enterprises belong to rural India. The services sector is one of the prime engagers of workforce in the economy.
The report, first in a series of two studies planned to be brought out based on the survey, reveals that 85% of all enterprises fall under own account enterprises category that are run without any hired worker on a fairly regular basis. The remaining 15% were found to be under Establishments— those running with at least one hired worker on a fairly regular basis.