“These results confirm what is already common knowledge: as far as the 2024 parliamentary elections are concerned, the BJP remains firmly in pole position. This advantage is principally driven by Modi’s enduring popularity,” the Carnegie Institute says.
Two major events in 2024 are likely to impact India’s equity markets and economy. First off is India’s next general election, expected to be held sometime in April and May 2024. The second event is the inclusion of Indian government bonds in the JP Morgan Global Bond Index-Emerging Markets (GBI-EM) starting in June 2024. This is likely to affect the equity and bond markets, and the economy. This event appears to have a positive impact on inflows in the near term, but the future outflows could be negative.
The results of the Dec 3 state polls provided a big boost to the Bharatiya Janata Party (BJP) of Prime Minister Narendra Modi, the Carnegie Institute for International Peace observes.
