Economics
Modi Win Spurs Optimism India Economy Will Lead BRIC Rebound
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India’s strongest electoral mandate in 30 years puts Narendra Modi in a position to pass measures to bolster Asia’s third-biggest economy, spurring optimism it will lead a recovery among the biggest emerging markets.
Modi’s Bharatiya Janata Party and its allies won about 61 percent of seats in parliament as voters punished the Congress party-led coalition for slowing growth, graft and Asia’s second-fastest inflation. If Modi pursues the anti-corruption policies he’s promised, India has the potential to grow about 10 percent annually for the next 20 years, according to Jim O’Neill, former chairman of Goldman Sachs Asset Management.