Indian Stocks Have Risen 15% Since Modi Election Win

Narendra Modi is being swept into office as India’s prime minister on a wave of optimism about his ability to restore the fortunes of Asia’s third biggest economy.
But is he the leader to haul India out of its funk, and put the world’s second most populous nation back on track to rival China?

Investors think so. The prospect of a government led by Modi has boosted Indian stocks by 15% so far this year. The rupee has responded too, gaining 6% against the dollar after a dismal performance in 2013.
An economic turnaround will be more difficult to execute. It will require a level of political skill and collaboration that has eluded top Indian policymakers for years.
India’s growth potential was once mentioned in the same breath as that of China. But the world’s biggest democracy has failed to deliver and its economy is just a fifth the size of its Asian rival.

via CNN

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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