India’s Opposition Wins Election by Landslide

Early results on Friday from India’s five-week long general election indicated a landslide victory for the opposition Bharatiya Janata Party (BJP) led by Narendra Modi.

The alliance led by the Modi’s Hindu nationalist BJP had already won or was winning 338 parliamentary seats, far more than the majority of 272 required to rule, Reuters reported. Even on its own, the BJP was ahead in 283 seats, giving Modi the most decisive mandate for an Indian prime minister in 30 years.

A total of 543 seats are up for grabs in India’s parliament. The United Progressive Alliance led by India’s National Congress party, which has been in power for the last decade, was leading in just 68 seats – its worst-ever showing.

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza