Chemicals sector attracts highest foreign investment
July 12th, 2009 - 2:59 pm ICT by IANSNew Delhi, July 12 (IANS) 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.
–Indo-Asian news Service
ash/ank/dg
- Telecom connectivity to bridge rural-urban divide: PM - Dec 04, 2009
- Pakistan's foreign investment drops - Nov 22, 2011
- Karnataka economy to dip to 6.4 percent - Mar 21, 2012
- Bangladesh sees nearly 16 percent fall in FDI in 2010-11 - Aug 21, 2011
- Government for FDI in multi-brand retail, invites feedback - Jul 06, 2010
- Industrial recovery underway: Economic Survey - Jul 02, 2009
- Foreign investment inflow touched $4.4 bn in April-May - Jul 29, 2009
- China's FDI goes down (Lead) - Mar 15, 2012
- Rs.5,434.5 crore FDI in telecom sector - Aug 24, 2011
- 'National manufacturing policy to be rolled out in January' - Dec 23, 2010
- Economic growth falls to 3-year low at 6.1 percent (Roundup) - Feb 29, 2012
- Himachal targets 9 percent growth (Lead) - Mar 08, 2011
- Foreign funds investments in September at $6.97 mn - Oct 02, 2011
- Service sector has insulated India from global slowdown: Survey - Mar 15, 2012
- Fruit, vegetable production increases - Mar 04, 2011
Tags: ank, asian news, assocham, automobile sector, chambers of commerce, chambers of commerce and industry, chemicals sector, construction activities, foreign investment, foreign investments in india, global slowdown, global trends, gujarat, industry of india, inflow, karanataka, New Delhi, power 1, tamil nadu, telecom sector
