Brazil, Russia, India and China - popularly known as the BRIC nations - continue to be the hottest destinations for global investors, a new report from consulting firm Grant Thornton said on Wednesday.

"In the past only the main markets could offer a home for foreign companies looking to list their shares abroad. But now the growth markets offer a more attractive alternative," said Mr Pankaj Karna, Partner - Capital Markets, Grant Thornton India.

The report said the emerging growth markets are offering a lucrative investment option to the global investors as the BRIC nations have showed a stunning performance in 2006.

It said that the main attractions of these four countries are that they offer more visibility, lower costs and access funds available for investment.

"These markets could become even more attractive after the flexibility for unlisted firms to list abroad becomes concrete in terms of regulatory perspective," it said.

As for India's case, it said in 2006, for the very first time credit rating of the country was revised, and was raised to the investment grade, also around $5.63 billion were raised through 91 initial public offer.

India's market capitalisation increased to $1,573 billion from $1,061 billion in 2005.

During 2006, Indian companies raised $19 billion from global markets far exceeding the inflow of foreign direct investment for 2006, which was just $9 billion in the same year.

In the case of China, around $97 billion was raised through IPO and by way of secondary market in all the three stock exchanges Hong Kong Stock Exchange as well as Shanghai and Shenzhen bourses, the report pointed out.