New Delhi, Aug. 17: Foreign direct investment (FDI) in the country grew 216 per cent to $11.4 billion in the first six months of 2007 from $3.6 billion in the year-ago period.

Inflows for the first quarter of 2007-08 went up 185 per cent to $4.9 billion from $1.7 billion during the April-June period last year.

“This is a huge jump. The most important thing is that these are largely first-mile investments that will grow in geometrical proportions,” commerce and industry minister Kamal Nath said.

Services, telecom, electrical equipment, real estate and transportation sectors attracted a major chunk of the FDI this financial year, said the minister.

Nath said India was a favourite destination of FDI “despite what is going on in the stock market”.

Vodafone topped the list of foreign investors by bringing in $801 million. It was followed by Matsushita Electric Works of Japan with $342 million.