It’s easy to criticise India’s democracy for its many shortcomings. But travelling in Madhya Pradesh to gauge the political mood, I was given a clear demonstration of at least one way in which Indian democracy is truly flourishing.
We had arrived at the Swami Vivekananda University, one of the multitudes of private universities that have sprouted up across India to cater to the many students unable to find a place in the government’s over-stretched higher education system. Continue reading »
India’s benchmark equities index reached yet another intra-day high on Monday, as investors remain optimistic about the upcoming election. It follows the weekend’s big news: that Nandan Nilekani, one of India’s best-known businessmen, will stand as a candidate for the governing Congress party in Bangalore. Continue reading »
From the recent rally in Indian equity markets it’s clear that investors have high hopes for an economic recovery after the forthcoming general election.
The expectation is that a strong and stable government will push through hard-hitting reforms and revive growth in Asia’s third largest economy. It seems, however, that chief executives are less optimistic that a change of government will create a swift turnaround. Continue reading »
In most democracies, by the time an election approaches the field of possible prime ministers or presidents has narrowed to two or three.
Not so in India. Narendra Modi, the candidate of the Hindu nationalist opposition Bharatiya Janata Party, remains the favourite to replace Congress’s Manmohan Singh and become India’s next prime minister, but the field of possible alternatives seems to be growing by the week. Continue reading »
India’s equity markets closed at a new all-time high on Friday, beating the record set in the previous session, while Arvind Kejriwal, head of the anti-corruption Aam Admi Party was refused an appointment with Narendra Modi, the opposition Bharatiya Janata Party’s prime ministerial candidate. Continue reading »
Remember that note from Goldman Sachs? The one where the US investment bank upgraded its assessment of the Indian economy on hopes that Narendra Modi, the pro-business prime ministerial candidate for the opposition Bharatiya Janata Party (BJP), would lead India’s next government?
Then, New Delhi was up in arms and accused Goldman of interfering. Now, it seems Goldman was only saying what all investors were thinking. Indian markets closed at record highs on Thursday and again on Friday, after the Election Commission announced dates for the voting and opinion polls showed Modi gaining popular support. Continue reading »
Its population is bigger than Brazil’s. The way its people vote can decide the direction taken by world’s largest democracy. No state in India is more important in the country’s forthcoming general election than Uttar Pradesh, the underdeveloped northern state of 200m people.
Of the 814m eligible voters mentioned by the Election Commission when it announced the April and May polling dates this week, 134m are in Uttar Pradesh. Continue reading »
The first official day of electioneering in India, after the Election Commission announced dates and details for the polls. The benchmark Sensex index hits an all-time high. Continue reading »
If electoral success were measured by publicity alone, Arvind Kejriwal could rightly claim victory in the tumultuous first day of the Indian election campaign.
Hours after the Election Commission announced dates and details of the general election to be held in April and May in the world’s biggest democracy, Mr Kejriwal of the Aam Aadmi (Common Man) Party was publicly arrested in Gujarat, the stronghold of his main rival Narendra Modi of the Bharatiya Janata Party. Continue reading »
Eleven parties came together on Tuesday to launch a ‘third front’ in India’s elections, seeking to overcome the incumbent Congress party and its main opposition, the Bharatiya Janata Party (BJP).
Commentators warn that such a nebulous grouping – though unlikely to come to power – wouldn’t provide the strong leadership and decision making India needs to get economic reforms off the ground and kick start its sputtering economy. Continue reading »
The poor northern state of Uttar Pradesh (UP) is home to some 200m people, makes up 7 per cent of the country’s land mass and has 80 out of 543 parliamentary seats in India.
That means this largely rural region is crucial as we head towards a general election. Analysts from Citi travelled to UP to gauge the mood. Continue reading »
The Indian government is keen to draw investors to the country, easing FDI caps in a range of sectors over the last year and a half. But you might think recent financial instability and political uncertainty ahead of this year’s general elections would hurt enthusiasm.
However, an Ernst & Young survey of 500 international investors has found some optimism about Asia’s third largest economy. Continue reading »
The publishing industry in India is worth some Rs100bn ($1.6bn) according to the Federation of Indian Chambers of Commerce and Industry. And it is growing at a compound annual growth rate of 30 per cent.
Of the 90,000 new books produced every year in 24 different languages, Hindi publications make up about 26 per cent and English language books 24 per cent. It’s all part of the ‘globalisation’ of literature. Continue reading »