Are you referring to US business schools as "foreign" schools? If so, your CGPA does not convert directly to an American GPA but it is good (not excellent). You may consider contacting schools in which you are interested to find out if they have a specific conversion method.
Also, remember that in order to be a competitive candidate, you must be well-rounded. In addition to a solid GPA and GMAT score, you should have meaningful work experience, outside skills/interests and be able to clearly articulate your short and long terms goals. When applying to schools, make sure their strengths fit your academic needs because that will make it easier for you to discuss why you have chosen a particular program.
Scottie Winslow | Admissions Consultant | Elite GMAT Preparation and Admissions Consulting | http://www.VeritasPrep.com