But NRI is not filing any ITR as no Taxable Income. Then what to do ?

Ans: ! Investing with a target return of 15% over a 5-year horizon is ambitious but achievable with a well-diversified portfolio. Here's a suggested allocation across different asset classes and funds to potentially achieve this target:

Equity Funds (60%):
Large Cap Funds (20%): These funds invest in large, well-established companies that tend to be less volatile.
Mid Cap Funds (20%): Mid-cap funds invest in medium-sized companies with higher growth potential but also come with higher volatility.
Small Cap Funds (20%): These funds invest in smaller companies with the highest growth potential but are the most volatile.
Debt Funds (30%):
Short-Term Debt Funds (15%): These funds invest in short-term debt instruments and are relatively less volatile.
Long-Term Debt Funds (15%): These funds invest in long-term debt instruments and can offer higher returns than short-term debt funds but come with higher interest rate risk.
Hybrid Funds (10%):
Balanced Advantage Funds or Aggressive Hybrid Funds (10%): These funds invest in both equities and debt, providing a balanced approach and reducing volatility.
Here's a simplified portfolio with approximate allocation:

Large Cap Fund: 10%
Mid Cap Fund: 10%
Small Cap Fund: 10%
Short-Term Debt Fund: 7.5%
Long-Term Debt Fund: 7.5%
Balanced Advantage Fund: 5%
Please note that this is just a suggested allocation, and you should adjust it according to your risk tolerance and financial goals. Also, past performance doesn't guarantee future results, so it's essential to monitor and review your portfolio regularly.

Lastly, considering the goal of 15% returns, it's crucial to stay invested for the entire period and not get swayed by short-term market fluctuations. Remember, investing is a long-term game, and patience and discipline are key to achieving your financial goals. Always consult with a Certified Financial Planner to ensure your investment strategy aligns with your financial objectives and risk tolerance.