Katrina Kaif's sister Isabelle Kaif was at the Indian International Film Festival, LA last week. In her interview there, she mentioned that she is producing a movie back in New York. I dont think its a Bollywood movie. She does not mention it.
When asked if she plans to go to Bollywood, she said "Hopefully. I have just finished a course back in New York and I want to finish a few things here. good willing, it will work out".
Check the interview which starts at 1:12. She comes across as a very sweet and level headed girl.

Katrina & Isabelle Kaif at the Stardust Awards. Looks like Isabelle is spending some time in India with Katrina.

Katrina's sister, Isabelle Kaif at the Filmfare Awards. She is spotted with Wake Up Sid director, Ayan Mukherjee who is a good friend of Ranbir Kapoor. Wonder whats cooking
I'm pretty sure Katrina has worn this dress before. Like most sisters, they obviously share clothes.