From Morningstar: 2024-06-10 11:16:00

Narenda Modi starts his third term as India’s prime minister after election outcome surprises markets and fund managers. Despite concerns of political slowdown, BJP’s pro-growth agenda is expected to continue. The Indian stock market hits $5 trillion, surpassing Hong Kong’s capitalization. Short-term volatility may be expected in equities, but long-term impact minimal. Foreign investment potential in India’s bonds could reach $40 billion with market inclusion. Modi’s pro-business stance may push markets higher with select sectors benefiting from growth.



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