Anticipation of Modi 3.0: A New Era for Indian Business
The impact of single-party rule on India Inc. is significant. Following the general election results, Mumbai-listed stocks experienced a $400bn market value loss on June 4th. The unexpected need for coalition partners for the ruling Bharatiya Janata Party (BJP) led by Narendra Modi caused initial market turmoil.
However, investor confidence was swiftly restored by June 10th as Mr. Modi formed a coalition aligned with his pro-business economic policies. The business community in India welcomed Modi’s third term as prime minister, known as Modi 3.0, with optimism and enthusiasm.
2024-06-13 04:45:18
Originally posted on www.economist.com