Toronto (PRWEB) May 16, 2014
India’s five-week election marathon has come to an end with a decisive 66 percent voter turnout.
Official results released earlier today in India confirm that Narendra Modi and his Bharatiya Janata Party (BJP) have ousted the Congress Party led UPA government in a convincing win.
The growing prospect of a BJP victory has been enough in recent days to boost India's main stock index, the Sensex, to record highs. It is expected that strong leadership at the centre will reverse the current slowdown and propel the economy forward.
http://www.rte.ie/news/business/2014/0516/617711-india-markets/ Published May 16, 2014
Mr. Narendra Modi, who spent 12 years as the Chief Minister of Gujarat has structured his campaign around the robust economic record of his home state relative to the rest of India.
He has presented himself as the pro-business candidate, able to address widespread dissatisfaction over a stagnating economy, stalled economic reforms, inconsistent regulation, high inflation, and ongoing corruption.
One of the big criticisms of the Congress-led United Progressive Alliance (UPA) government was that it delayed the implementation of key reforms, seen by many as key to long-term growth.
Mr. Modi refocused the BJP party platform on a commitment to make India "globally competitive," and to reclaim India's role as a global trading power.
“A clear majority for the BJP enables the new government to take measures aimed at boosting growth and investment, removing regulatory bottlenecks and restoring fiscal balance. If implemented, these will restore investor confidence and lead to a resurgence of growth creating new opportunities for Canadian business,” says Peter Sutherland, President & CEO of the Canada-India Business Council.
Interview Opportunity: Commentary, Analysis & Insight
For more commentary, analysis and insight on what Indian election will mean for Canadian business, trade relations, specific industries and provinces, please arrange to speak with Mr. Peter Sutherland, President and CEO of the Canada India Business Council.
Contact:
Belle Serio
Canada-India Business Council
(416) 214-5947 (ext. 21)
bserioa(at)canada-indiabusiness(dot)ca