The Government is seeking foreign investments in the rural sector. Union Minister for Rural Development C P Joshi today said, India's villages are ripe for profitable ventures, especially in areas of infrastructure development and services. Addressing an international conference organised by ASSOCHAM in New Delhi on 'Rural India – Potential Hub for FDI', the Minister said villages hold immense potential especially in areas of housing, food processing, solar energy and support infrastructure. He noted that FDI inflows into India during 2009 crossed Rs. 80,000 crores and this was the highest ever in rupee terms.The Minister said that the country primarily remains an agrarian economy with 70 per cent of population and 94 per cent of the land mass in rural areas, underlining that potential for private investment including FDI. Rural housing is an area where private investment could be most valuable. He pointed out that a shortage of about 47.43 million houses in rural areas has been estimated in the 11th Five Year Plan.The Minister said, India's strong agricultural base and accelerating economy growth holds a significant potential for the food processing industry which provides a strong link between agriculture and consumers. Seeking to reach out to Non-Resident Indians for investment in rural sector, Joshi said they are also an important source of FDI.