Mumbai: Foreign capital flows into the country almost tripled in 2007-08 compared to the same period in the previous fiscal, the National Council for Applied Economic Research (NCAER) said in a report.

''In the first nine months of 2007-08, the net capital flows rose to $83 billion from $30 billion during the corresponding period of the previous year,'' the report said.

The increased flow of overseas funds have also helped the country in boosting its forex reserves, it added.

''Access to global capital has helped India's macro economy to see a rapid and steady rise in its forex reserves, post-1991 period,'' the NCAER report said.

The inflow of funds, in terms of foreign direct investment (FDI) or external commercial borrowing, has also complemented portfolio funds, the report said, adding that between FY-04 and FY-08, the reserves rose by more than $150 billion.

These capital inflows have become a significant force behind total investment spending, the report said.

Foreign funds during the period rose enough to finance the current account deficit, it said. Besides India, a similar trend has been noticed in all emerging economies, the report said.

The overall capital flow to these economies has gone up from $168 billion in 2003 to $605 billion in 2007, the report added.