New Delhi, July 12 - 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.