Narendra Modi grip on the Indian politics and Government gets stronger post the political control over Maharashtra and Haryana! It is great news for the Indian economy (and financial markets) to believe in long term prosperity into 2019-2024. The platform to script (and execute) India economic prosperity is rock-solid and it could only strengthen going forward as NaMo dominance gets spread across India into other non - BJP governed states. Combination of NaMo Tsunami & external tailwinds and creation of India economic (and business) opportunities will pull-in domestic & external liquidity to step-up momentum in India economic growth prospects to trigger significant improvement in India macroeconomic fundamentals. All these positive factors will obviously lead to sovereign upgrade in second half of 2015 for financial markets to switch gear for next round of re-rating in 2015. All cues taken (combining domestic & external cues in play), there is no reason to stay in doubt on the long term economic and social prosperity of India.
There are good reasons to stay on "buy dips" mode on financial markets and not to get worried on any event (or data) led correction. The medium/long term bullish trend is firmly in place as establishment of "higher low's" will be in the making going ahead!
It is cheers to Narendra Modi to steer India's economic prosperity to higher level (and India into the club of Developed economies); let Modi's team be not complacent over this euophoria (and stake-holders confidence) as execution risk (and failure) can lead to doom & gloom for BJP and India. The proof of the pudding is in eating!
Moses Harding
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