New Government Not Holy Grail For India’s Problem

Hopes for a change of government in India’s upcoming elections have helped the subcontinent’s currency and shares recover from sharp declines earlier this year, but the optimism may be premature.

After a strong performance in state elections completed earlier this month, many expect the opposition Hindu nationalist Bharatiya Janata Party (BJP), led by Narendra Modi, could oust the current ruling Congress party in national elections set to be held by May. The Congress party’s image has been tainted by a poor economic performance and the slow pace of legislative changes.

Modi, the prime ministerial candidate of the BJP who is currently serving as the chief minister of Gujarat, has been applauded for his investor-friendly policies that have led the state to double-digit economic growth.

CNBC

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu