Economic Growth

Indian legislative elections were held on April 14, 2024, to choose a new parliament to represent the country for the next five years. These elections are considered the largest and longest in the world, given the vast geographical area of India, as voting will be held in seven phases across different states over a period of approximately six weeks. About 969 million voters will participate in these elections to choose 543 members of the lower house of the Indian Parliament (Lok Sabha). These elections are of great importance and are among the most expensive in the world, with their cost expected to reach be nearly double what was spent in the 2019 elections.     An opinion poll conducted by the Centre for Research and Studies of Developing Countries indicates that the ruling Bharatiya Janata Party (BJP) is likely to win the 2024 Indian parliamentary elections, paving the way for a third term for Prime Minister Narendra Modi. The Lok Sabha elections are being held in a negative atmosphere, with opposition allegations of unequal playing field, as a result of the intervention of federal law enforcement agencies who have attacked several political leaders and froze their bank accounts for six weeks. This means that the elections will have political and economic repercussions if Modi wins a third term, which will in turn impact India’s internal situation.