New Delhi, July 12 (Inditop.com) Despite the global slowdown, the chemicals sector witnessed the highest growth in foreign investment in 2008-09, says a report by an industry lobby.
The report by the Associated Chambers of Commerce and Industry of India (Assocham) released Sunday said the chemicals sector (other than fertilisers), attracted $749 million last fiscal as compared to the $229 million it attracted the previous year – an increase of 227 percent.
The telecom sector, too, saw higher foreign investment, attracting $2,558 million in 2008-09 as compared to the $1,261 million the year before. This was an increase of 103 percent.
Similarly, despite global trends, the automobile sector recorded a 70 percent growth in foreign investment, growing from $675 million in 2007-08 to $1,152 million last fiscal.
Other sectors that saw increased foreign fund inflow were housing and real estate (a growth of 28.55 percent), computer software and hardware (18.94 percent), construction activities including road and highways (16.35 percent) and power (1.86 percent).
However, the report said, sectors like services, metallurgical and petroleum and natural gas saw foreign fund inflows declining in 2008-09.
According to the report, Maharashtra, Gujarat, Karanataka, New Delhi, Tamil Nadu and Andhra Pradesh together attracted about 81 percent of the total foreign investments in India.
Maharashtra attracted $12,409.20 million, accounting for 53 percent of the total foreign investment.
