Narendra Modi will begin his third term as India’s Prime Minister with a weakened mandate and that will make the passage of contentious economic reforms more difficult. But he will still be able to work as the head of a stable coalition, and the broader embrace across the political spectrum of the value of economic reform means the new government could still do enough to keep potential growth at 6-7%. That would leave the economy on course to more than double in size over the next decade.
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