India's worst fears have been confirmed by the US government's annual report on global terror. The "Country Report on Terrorism" reveals the modus operandi of the terrorist outfit Jaish-e-Mohammed to raise funds for its militant activities in India.

India's National Security Advisor M.K.Narayanan had expressed his fears earlier this year in Munich during the course of the 43rd Conference on Security Policy, that terrorists were investing in the stock market to finance their activities.

Warning bells had been sounded when fictional companies were reported to be operating on the Mumbai and Chennai stock exchanges last year.

Intelligence leads had also revealed that terrorists were in profitable ventures like hotels, real estate and shipping. Income from these sources was channelised for terrorist activities in India.

The US report now further confirms that Jaish-e-Mohammed had withdrawn its funds from accounts in Pakistan, and directed these towards "legal" investments in India, such as the commodity market, real estate and production of consumer goods.

Financial support from the Al-Qaida could be a strong possibility, the report adds. It may be recalled that the JeM chief, Maulana Masood Azhar had been released by the Indian government to save the hijacked passengers of IC 814 to Kandahar in 1999.

While listing the prominent terror groups in India, the US report has identified the militant groups operating in Jammu and Kashmir, the Naxalites in southern and central India, and the ethnic nationalists in the north-eastern states.

The US report notes that India's "outdated and overburdened" law enforcement systems have come in the way of its efforts to eradicate terrorism.

In spite of the odds, India had achieved a fair amount of success in countering terrorism, making several arrests, seizing explosives and pre-empting attacks by the Lashkar-e-Taiba and other militant outfits.

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