Indian stocks, bonds, and the rupee are expected to go up on Monday after exit polls showed a strong win for Prime Minister Narendra Modi’s party in the general elections that finished on Saturday.
The polls suggest that the Bharatiya Janata Party-led alliance will likely get many more seats than the 272 needed for a majority in the 543-seat lower house of parliament. Vote counting is scheduled for Tuesday.
In the current election, the Modi-led Bharatiya Janata Party (BJP) is up against the Indian Alliance, led by the Congress Party. Modi aims to continue his tenure and has emphasized his vision of elevating India’s economy and achieving developed nation status by 2047.
However, he faces criticism, particularly from Muslim groups, for his divisive rhetoric. Modi is relying on support from the Hindu community.
Vote counting is expected to take place on Tuesday, following the completion of the final round of voting today, with results anticipated on the same day.