India's Economy Booming Under Modi's Leadership, But Questions Remain About Impacts on Pluralism
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Indian stocks and economy are booming, with the Nifty index up 20% in 2022 and GDP growing over 8% last quarter. Analysts predict 9% more gains this year.
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India is benefitting from major trends like increased digitization, growing manufacturing sector, and reforms in housing/real estate. This is creating new investment opportunities.
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Government spending on infrastructure and policy reforms under Prime Minister Modi have aided efficiency and economic growth.
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Private equity investment has quadrupled over the last decade to $40 billion per year, focusing especially on tech, healthcare and consumer services.
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Modi is likely to win another term in 2023 elections, providing political stability. However, some warn his Hindu nationalist tendencies threaten India's secularism and pluralism.