CNBC's Inside India newsletter: Modi's loss could be India's gain
Publishing timestamp: 2024-06-06 12:37:52
Summary
Indian Prime Minister Narendra Modi's party, BJP, did not win a supermajority in the General Elections, but will form a coalition government. The weakened mandate has damaged Modi's brand, but Wall Street sees stability and predictability with Modi taking office for a rare third term. Investors are optimistic about the election outcome and expect positive returns. Modi's new government will reveal its budget in July, which will give direction to investors. India's GDP growth is not as dependent on oil consumption as before, leading to a more efficient economy.
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Source: https://www.cnbc.com/2024/06/06/cnbcs-inside-india-newsletter-modis-loss-could-be-indias-gain.html