Home News LIVE UPDATES: India election results show setback for Modi

LIVE UPDATES: India election results show setback for Modi


A die-casting plant in Tamil Nadu, India, last year.Credit…Atul Loke writes for The New York Times

Ten years after Narendra Modi was first elected prime minister, India’s economy was roughly twice as big as it is today. Growing at a rate of 7% per yearIndia has maintained this performance on average since opening its markets to international competition in 1991.

This steady growth was cleverly repackaged to promote One person’s leadership Let this happen.Beyond nationalism and Hindu pride, the idea that Mr Modi could boost the economy has been at the heart of his appeal from the start.

Modi has boosted India’s economy in the way that voters care most about: he Visible infrastructure expansion and distribute Welfare For most Indians, even as the country’s top income earners have learned to flex their spending muscles, they remain poor by global standards.

Most of the world—particularly the United States and other Western countries that hope to persuade India to join them in a joint effort to constrain the strategic ambitions of China and Russia—would like India’s economy to grow faster.

Part of this story may be Transformation of manufacturing industryJust like what Apple did in South India. Global Investment Professionals They are eager for India’s success under Modi to bring them dividends they cannot find elsewhere.

But even the most ardent investors cannot ignore some Problems facing India Becoming the world’s newest heavyweight. Mr Modi bathes in Successful moon landing and the country’s innovation “Digital Public Infrastructure” The political opposition tried to circumvent him by appealing to those who demanded More and better jobs.

The opposition has also tried to stir up public anger over Modi’s ties to the country’s richest men. That strategy doesn’t seem to be working, either politically or in the markets, as Gautam Adani. The billionaire’s business empire caused a furore last year when it was accused of stock manipulation. But the charges barely made a ripple and Adani’s shares are soaring again.

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