Prime Minister Narendra Modi could be India’s Shinzo Abe. If the recent success of Saffron party saw a renaissance in the share market as the sensex touched 32 K and it is a grand phenomenal increase. In the last one year it has increased by 4000 points and it shows market stability and upheaval. It is a clear indication that on seeing a stable government sensex goes up and Nifty closed just 8.3 points short of 9900. Just like his Japanese counterpart, Modi would oversee higher asset prices and revive growth, but struggle with structural reforms. Financial markets would cheer a Modi victory just as loudly as they hailed the Japanese prime minister’s ride to power in those days. Modi is a game changer and do a world of good to Indian Economy in the months to come. Add a recovery in the battered rupee, and the gains for foreign investors could be quite lucrative. The economy will also revive, as it has in Japan. Happier times are here again.
(The views expressed by the author in the article are his/her own.)