Investing in India
The country is going through an election process at present of which we await the results after five weeks of voting, with interest. This looks to be a new record turnout of voters, bear in mind there is a potential of 815 million voters! As of Wednesday 7th May 66.2% had been out to vote in up to 40 degrees heat. The battle concludes today the 12th May and if Narendra Modi is elected Prime Minister, this will be good for the economic future and growth of India. Both last Friday 9th May and today the Sensex and Nifty 50 are climbing to new highs in anticipation.
There are three key players (parties) Narendra Modi (BJP – Bharatiya Janata Party), Rahul Gandhi (Congress Campaign party – existing leading party) and Arvind Kejriwal (Aam Admi (Common Man) Party).
Narendra Modi is the current and 14th Chief Minister of the state of Gujarat. In July 2007, he became the longest-serving Chief Minister in Gujarat’s history. He has been praised for his economic policies, which are credited with creating an environment for a high rate of economic growth in Gujarat. If Modi and the BJP gain enough seats in the election he may be able to help transform the whole of India in the same way that he has with Gujarat, increasing economic growth.
Wherever you are in India, whatever your politics, and whomever you did or didn’t vote for, the spectre of Modi hangs over the 2014 Lok Sabha elections. So relentless has been his campaign, so dramatic his delivery, and so ubiquitous his development message, that he has converted a complex parliamentary system into a presidential-style referendum on himself. Over the last nine months, Modi has travelled 300,000 km, or seven times the Earth’s equatorial circumference. He has attended 5,187 events, addressed 477 rallies in 25 states while sleeping barely five hours a night, and harnessed the Internet and mobile telephony to connect with an estimated 230 million people, or one in every four voters. That’s more people than the population of Brazil and three times the combined annual traffic of the Delhi and Mumbai airports. These are figures Barack Obama’s 2012 US presidential campaign, from which the Modi machine learnt how to create an all-round 24×7 experience, would be proud of. Root for Modi or reject him, the way India’s most controversial mass leader managed to create a personality cult in one short year will forever change how elections are fought in this country.
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