| Rural area |
|---|
| Currency | Indian rupee (INR) ₹1 |
|---|---|
Trade organisations | WTO, WCO, WFTU, G-20, BIS, AIIB, ADB |
| Statistics | |
| GDP |  $3.53 trillion (nominal; 2022)[1] $11.75 trillion (PPP; 2022)[1] |
| GDP rank | |
| Unemployment |  2.6% (2018)[2] |
Main industries |
|
All values, unless otherwise stated, are in US dollars. | |
In rural areas, the business operates towards different industries, which are agriculture, forest, and handloom industries. The people lived in different areas of rural India master in unique skills. Such as the rural people living in Kerala, they have professional skill in carving wood, the other rural people proficient in weaving carpet live in Kashmir, there are various skills from place to place is because of the factors of resources and traditions.[3] Besides, in India, the agricultural is vital for the economy because it accounts for 44.5% of GDP[4] from 1970 to 1971 and offers 68% of rural employment. However, the agriculture sector shrunk to 16.1% of GDP in 2009 while the proportion of non-agricultural industry achieved 86% of the GDP.[5]
A rural enterprise refers to a company registered in the rural areas, was under the responsibility of the Department for Environment, Food and Rural Affairs.[6] The reasons for business operating in the rural area are favorable factors such as the appealing dwelling, fresh air, bigger extend headroom, cheaper rental fees, and harmonious relationships with labor. In India, there are still many people living in rural areas.[7] Furthermore, There are approximately 90% of employees are residents who work in an assigned area in the countryside and aim to increase the local economy. The purpose of increasing in rural economy is to make fewer people living under the poverty line.[7] The joint family structure is predominant as the strong kinship relationship in India.[8] Therefore, to assure that there are lucrative employment opportunities in rural India, the intervention of the plan is needed.[7] For example, the Mahatma Gandhi National Rural Employment Guarantee Act has been promulgated to increase the opportunities for wage employment.[9]
- ^ a b "World Economic Outlook Database, April 2019". IMF.org. International Monetary Fund. Retrieved 9 April 2019.
- ^ "India Unemployment Rate". World Bank. World Bank. Retrieved 25 May 2019.
- ^ Anandaram, K; Dubhashi, Medha (1999). "Role of cooperatives in social development". Indian Journal of Industrial Relations. 35 (1): 108–113 – via JSTOR.
- ^ Sandhu, Navjot; Hussain, Javed; Matlay, Harry (26 October 2012). "Barriers to finance experienced by female owner/managers of marginal farms in India". Journal of Small Business and Enterprise Development. 19 (4): 640–655. doi:10.1108/14626001211277442. ISSN 1462-6004.
- ^ Tiwari, Sanjay (2015). "Managing Transformation of Rural India through Rural Non-Farm Economy". Journal of Rural and Industrial Development. 3 (2). doi:10.21863/jrid/2015.3.2.010. ISSN 2321-1873.
- ^ Exploring rural enterprises : new perspectives on research, policy & practice. Henry, Colette., McElwee, Gerard. Bingley, U.K.: Emerald. 2014. ISBN 9781784411091. OCLC 888215615.
{{cite book}}: CS1 maint: others (link) - ^ a b c Anandaram, K; Dubhashi, Medha (1999). "Role of cooperatives in social development". Indian Journal of Industrial Relations. 35 (1): 108–113 – via JSTOR.
- ^ Rutten, Mario (2001). "Family Enterprises and Business Partnerships: Rural Entrepreneurs in India, Malaysia, and Indonesia". The Journal of Entrepreneurship. 10 (2): 165–189. doi:10.1177/097135570101000203. ISSN 0971-3557. S2CID 154562615.
- ^ "India: Significant Employment and Enterprise Thrust in Rural Areas". sydney.primo.exlibrisgroup.com. Retrieved 15 May 2019.