India, ’s Modi, allies to meet after humbling election verdict, markets down in early trade
Indian Prime Minister Narendra Modi’s Bharatiya Janata Party (BJP) won 240 seats in the general election, falling 32 seats short of an outright majority. The weakened majority could pose challenges for the government’s reform agenda, but policy continuity is expected to persist. Modi’s alliance won 293 seats, enough to form a government, but he may have to depend on regional parties for support. Despite a reduced victory margin for Modi in his own seat, necessary reforms are still feasible. The opposition INDIA alliance, led by Rahul Gandhi’s Congress party, won 230 seats and is expected to discuss a future course of action.
