, Columnist
Why India’s Political Reset Isn’t a Growth Killer
Coalition governments were the norm for 25 years before Narendra Modi’s arrival. Investors need to get used to them again.
The era of single-party control is over.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
The spike in volatility in Indian markets this week portends the triumph of politics over economics after a 10-year hiatus.
Narendra Modi met leaders of the parties that make up his National Democratic Alliance Wednesday. For the first time since he became chief minister of the western state of Gujarat in 2001 — or prime minister in 2014 — he needs allies to stake his claim on power.