Encouraged by the great economic promise, improved relations with the West, and tremendous strides in industry, major foreign funds disclosed plans to enter the Indian mutual fund industry.

US-based American International Group and JP Morgan, British fund house Dawnie Day and Singapore-based Temasek are have disclosed plans to enter the Indian mutual fund industry in the next five-six months. It is not clear if they would enter the market by themselves or through joint ventures but are awaiting Securities Exchange Board of India (SEBI) approval.

Their plans include investment in realties, asset management, consumer finance, mortgage guarantee, and capital recovery businesses.