Yes, Lenovo A369i supports WiFi hotspot.
To create a WiFi hotspot,
goto Settings>>More>>Tethering & portable hotspot
move the "WLAN hotspot" toggle switch to ON
Your phone will now act as a WiFi hotstpot.
For advanced settings, click on the WLAN hotspot(not on the toggle switch), here you will have more options for security, bandwidth management etc.
Note: To use this WiFi hotspot to access internet, your mobile data must be enabled.
To enable mobile data
goto Settings>>Data usage, here select the sim you want and toggle mobile data to ON
goto Settings>>More>>Mobile networks>>Data connection, here select the sim you want to use for data connection.