Early results on Friday from India’s five-week long general election indicated a landslide victory for the opposition Bharatiya Janata Party (BJP) led by Narendra Modi.
The alliance led by the Modi’s Hindu nationalist BJP had already won or was winning 338 parliamentary seats, far more than the majority of 272 required to rule, Reuters reported. Even on its own, the BJP was ahead in 283 seats, giving Modi the most decisive mandate for an Indian prime minister in 30 years.
A total of 543 seats are up for grabs in India’s parliament. The United Progressive Alliance led by India’s National Congress party, which has been in power for the last decade, was leading in just 68 seats – its worst-ever showing.
via CNBC
Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.