June 5, 2024

A stunning political setback for Indian Prime Minister Narendra Modi has business executives in the country furiously making calls, trying to better understand the impact on India’s economy and investment landscape following Modi’s failure to secure a supermajority for his party.

“Indian voters are great teachers. They have certainly surprised the politicians, exit pollsters and market watchers,” wrote Venugopal Garre, managing director at AB Bernstein, to clients in an email.

Over the past several years, chief executives from some of the biggest companies in the United States have invested time and money into relationships with Modi, as they set their sights on the Indian market.

Read more:

https://www.cnbc.com/2024/06/05/modi-india-election-wall-street.html