The prospect of a second term for Indian Prime Minister Narendra Modi sent the country’s stock markets soaring to record highs on Thursday.
Modi swept to power in 2014 promising to give India’s economya shot in the arm by removing red tape and spurring domestic and foreign investment.
He’s had some success in boosting India’s image as an attractive investment destination for manufacturers and retailers, but other promises haven’t panned out and growth and investment has slowed in recent quarters.
« The expectations of really big reforms from 2014 are a bit tempered now, but I think we’ll see a broadly reform-minded and business-friendly government » if Modi comes back to power, said Shilan Shah, India economist at Capital Economics.
