Economy of India
Indian markets grew by 19 per cent in the first half of FY15, the best performance by any market during this period, globally. The rise was primarily due to strong inflows from foreign institutional investors FIIs . As of September 26, FIIs had invested Rs 61,024 crore US$ 9.86 billion this financial year, while mutual funds had put in Rs 15,298 crore US$ 2.47 billion during the same period, according to Securities and Exchange Board of India SEBI data.
Foreign exchange Forex reserves increased by US$ 60.5 million to reach US$ 319 billion in the week ended August 29, 2014, according to data released by the Reserve Bank of India RBI . Also, foreign currency assets rose by US$ 75 million to touch US$ 291.39 billion.
India has contributed 10.25 per cent of the overall 3.9 per cent rise in the global market capitalisation market cap this year, which has made it the second highest contributor in the world. The valuation of Indian equities remains attractive, with a market cap to gross domestic product long period average of 72 per cent.
Indian employees are expected to see a salary hike of 10.8 per cent in 2015, according to the Towers Watson 2014 15 Asia Pacific Salary Budget Planning Report. The report indicated that due to increased economic growth, Indian employees at both ends of the hierarchy top management and blue collar staff are likely to see the highest comparative pay increase in 2015.