It is highly likely for PM Narendra Modi to win 2019 general elections, says Chris Wood, equity strategist, CLSA. In a conversation with CNBC, TV18 Wood said, “PM Narendra Modi’s focus is on development agenda and not on stock markets. The high-risk plan of demonetization before the state polls paid off”. Talking about his view on India he said that on long term he is more positive on India than China. “India is the most exciting emerging market story in the global context. I am majorly focussed on India’s domestic consumption story”. “Lack of investment cycle is a missing link in Indian equities and this may not allow bull market rally like 2003-04,” he added. He also lauded PM Narendra Modi’s demonetisation move. “Demonetisation is positive for India and not negative”. “India is the best domestic demand story in Asia. “I have bought stocks which were hit due to demonetization. Private banks will continue to take away market share from PSU Banks,” he said.
Meanwhile, according to US experts, Prime Minister Narendra Modi has emerged as a clear favorite for the 2019 general elections after the BJP’s landslide victory in assembly elections in Uttar Pradesh and Uttarakhand. While one of the experts noted that the electoral results of the just concluded Assembly polls in five states show that the 2014 Lok Sabha election results were not an aberration, another noted that Modi would continue to lead India after 2019. Modi has been established by this election as the “clear and favorite winner” for the 2019 elections, Sadanand Dhume, a resident fellow at the American Enterprise Institute said. “Modi is the frontrunner (for 2019),” he said.
EXCL “It is highly likely for Modi to win the 2019 elections”, says Chris Wood, Equity Strategist, CLSA. pic.twitter.com/qjaMiZQZoe
— CNBC-TV18 News (@CNBCTV18News) March 14, 2017
India is going to bump up its economic reforms that directly affects the people of the country, said Alyssa Ayres, senior fellow for India, Pakistan and South Asia at the Council on Foreign Relations. Picking up four governments in states all across India, and having future prospects, it is unlikely to have an impact on foreign policy. Like demonetisation #IamNewIndia is the pledge that the Prime Minister is asking citizens to be part of his new India campaign. BJP will now pick up a lot of seats in Rajya Sabha which would help the ruling party to carry out its long pending reform like the land acquisition reform and labor reforms. They would tart picking up seats is early as 2018. BJP is looking at 2019 and beyond.