Newsmakers: FDI rose 24% to $60.69 bn, GDP to grow at 7.9% in FY17 and more

FDI in the India has increased by 24 per cent to $60.69 billion under the present government, Parliament was informed on December 9, 2015.

The country had attracted $48.9 billion FDI during February 2013 to May 2014, Commerce and Industry Minister Nirmala Sitharaman said.

Retirement fund body EPFO 's investments in stock markets are not backed by any guarantee by the government as these are subject to market movements, Parliament was informed.

EPFO expects to receive Rs 1.2 lakh crore as incremental deposits during the current fiscal. Thus, it is likely to invest around Rs 6,000 crore in ETFs during 2015-16.

India's GDP is expected to grow by 7.9 per cent next fiscal driven by rising domestic demand and higher capital spending by the government, Goldman Sachs said.

Goldman Sachs India chief economist Tushar Poddar said the investment demand will improve gradually, driven by greater government spending on infrastructure, lower interest rates, rising FDI inflows and ongoing improvements in ease of doing business.

The Auto Expo-The Motor Show 2016 promises to be bigger, better and more exciting and expects to see over 6 lakh visitors, SIAM director general Sugato Sen said.

In the 2014 event, the daily average footfall was over 1.25 lakh, making Delhi Auto Expo the largest in the world.

The nearest rival was the Shanghai Expo which averaged around 1.13 lakh visitors a day, SIAM said.

Hyundai Motor India said it will hike prices of its products by up to Rs 30,000 from next month to offset rising input costs and unfavourable foreign exchange fluctuation.

Already various car makers including Toyota and German luxury car makers Mercedes Benz and BMW have announced a hike in prices of their vehicles across models from January to offset rising input costs.