Here's why the 'Modi-fication' of India is still thrilling stock markets business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
In late 2013, Goldman Sachs Group Inc. expressed optimism about India amidst a growth slowdown, titling its report "Modi-fying Our View," referring to Narendra Modi, then a favored prime ministerial candidate. However, a decade later, Modi s zeal for reform has waned, with the BJP s promises now more modest. Despite this, global financial industry support for Modi remains high, with expectations of increased overseas capital post-elections. This new investor-Modi compact focuses on what he won t do, such as following authoritarian paths like China s Xi Jinping or pursuing ultra-low interest rates like Turkey s Erdogan. With a favorable environment for investors, Modi s potential third term is anticipated to bring increased investment, guided by discretionary incentives and protective trade barriers.