NEW DELHI, July 6: Foreign investment in India is up significantly in the first half of 1993. according to official figures released here Monday, reports AFP.

"The first five months this year investment worth 33.20 billion rupee (1.1 billion dollar) was approved by the government as against 38.90 bfl lion rupee (1.29 billion dollar) In 1992 and 5.3 billion rupee (176 million dollar) the previous year," an official release said.

More than 90 per cent of the investment was in high priority areas such as power, oil, food processing, chemicals. electrical and electronics equipment, telecommunications, transportation. Indus trial machinery and hotels, ft added.

The United States is the biggest investor In India, with projects worth 19.42 billion rupee (647 million dollar) In the pipeline for the first half of this year. US investment in the country last year was worth 12.31 billion rupee (410 million dollar), according to the release.

Investments from Australia, Britain, Germany, Italy, Japan, Malaysia, the Netherlands, Singapore, South Korea. Sweden and Switzerland have also shown a significant increase, the release added.

India has been opening its doors to foreign investors since Prime Minister PV Narasimha Rao took power in June 1991 and launched a series of economic reforms.