India Elections: What’s at Stake and What it Means to the Market (Pictet)

SUMMARY

› India’s 2019 general election starts today. The key question is whether the BJP (and its allies) can retain the majority in the lower house and if Modi can remain as the Prime Minister.

› In Pictet’s view, the most likely scenario is that the National Democratic Alliance (BJP’s coalition) will be able to obtain a simple majority of seats, or at least get close enough to it so that a BJP-led coalition can form the next government.

› Although markets seem to be hoping for Modi to stay in power, a stable government and consistent policy making would likely matter more to local equities than which party ends up governing. READ MORE

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