He described as a "bold step forward" the schemes announced in the budget to attract NRI investments. He said he was confident that the schemes would help in channelising NRI funds into the country. He also said NRIs could now have 100% equity in those sectors where foreign direct investment is allowed upto 51% equity.

London-based NRI S P Hinduja, who is also the president of Indusind International Federation, said today in a statement that the various proposals for investment by overseas Indians in capitalmarket and for subscription in specially devised instruments would enable their participation in the infrastructure development.