Services sector still No 1 FDI earner

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New Delhi, Jun 24 (UNI) Foreign direct investment (FDI) in India's services sector grew by leaps and bounds to Rs 26,589 crore during 2007-08 from Rs 1,986 crore in 2004-05.

While the services sector (financial and non-financial) garnered the maximum FDI, it was followed by computer software and hardware and telecommunications (radio paging, cellular mobile, basic telephone services).

Computer software and hardware received Rs 5,623 crore in FDI while telecommunications attracted Rs 5,103 crore.

However, the sectors of power, petroleum and natural gas, construction and real estate have seen a dramatic rise in preference from foreign investors with FDI being allowed up to 100 per cent since 2004-05.

The housing and real estate sector has slowly inched its way up despite being thrown open to FDI in 2004-05, gaining 2,179 million dollars in 2007-08.

Even the power sector proved to be the investors' delight going by the FDI inflows, up at 967 million dollars.

The petroleum and natural gas sector, which saw a decline in 2005-06, totalled 1,427 million dollars in 2007-08 against just 401 million dollars in 2006-07.

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