Service sector preferred by overseas investors


Despite the economic downturn, the country managed to attract $ 3.47 billion  FDI in July, while it was $2.24 billion in the year ago month, according to official data.
India’s total FDI inflow during April-July 2009 was $10.49 billion, down 15 per cent from $12.32 billion in the same period previous year, the data said.

According to an UNCTAD report, the FDI in India may erode sharply from the record $ 42 billion in 2008 with trans-national corporations (TNCs) going slow on expansion plans following the global financial meltdown.

The housing and real estate sectors that attracted $1.41 billion investments. The telecommunications sector attracted investments worth $993 million.

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