What I Learned This Week

Challenges are rising for Modi’s re-election? India may experience economic chaos if a weak and unstable government emerges post election. The Indian stock market, which has been range-bound since the beginning of this year, may start discounting an unfavorable election outcome.

Recent events indicate the race to India’s next federal election is wide-open. The evolving regional north-south divide along with the emergence of a united coalition of opposition parties is more realistic than ever before—underscoring the mounting challenges for Modi. Sentiment is strengthening among the populace that Modi has fallen short on his 2014-election campaign promises of jobs creation, addressing the agricultural crisis, better governance and faster economic growth. The cash ban of 2016 and inefficient implementation of the nationwide Goods and Service Tax has hurt millions of people and businesses—prompting them to think beyond Modi. The four state elections scheduled in the s…

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