India recently held its general elections in seven phases from April 19 to June 1, 2024, selecting all 543 Lok Sabha members. With over 968 million eligible voters out of a population of 1.4 billion, the turnout was reached an amazing 642 million, including 312 million women, a historic high.
The recent election results in India have brought different reactions from leaders. Uday Kotak points out the government’s focus on healthcare, housing, and infrastructure. Kunal and Pankaj Sharma see growth in real estate and education. Ricky Vasandani notes sector-specific growth, while Anupam Mittal talks about the political scene.
- Uday Kotak, Chairperson of Kotak Securities
“We believe that the government will continue its focus on key areas such as (1) affordable healthcare and housing, (2) energy transition, (3) infrastructure development (defence, railways and roads) and (4) manufacturing. We note that the government has already executed the bulk of the required reforms for incentivizing private investments”
2. Kunal Sharma, Founder of Kunal Realty
“The BJP-led NDA’s continued governance signifies economic stability and growth, which is essential for the real estate sector. We foresee streamlined regulations and policies that will enhance investor confidence in commercial and residential properties. This political stability can drive significant infrastructural development, creating more opportunities for both buyers and developers, and shaping a more robust real estate market.
3. Mr. Pankaj Sharma, President, The Lexicon Group of Institutes
“This is the time when India is about to rise and shine. I am looking forward to a stable government. The education sector is poised for transformative growth. We anticipate enhanced digital infrastructure and innovative policies that will elevate educational standards and accessibility across India. This stability will allow us to focus on fostering a culture of excellence and innovation in learning, benefiting students and educators alike. Looking forward to a government that lasts and is able to take decisions freely.”
4. Pallavi Jha, Chairperson & MD Walchand PeopleFirst Ltd Dale Carnegie India
“The 2024 Indian election results exemplify that true leadership goes beyond authority, it is about inspiring and mobilizing diverse voices towards a common goal. In politics the Dale Carnegie principle, “Talk in terms of the other person’s interest” is the only thing that works. Moreover, collaboration among the coalition members underscores the importance of having a higher purpose, like saving the constitution, that helped gain alignment and overcome divisions to achieve collective success. It is this combination that drives meaningful change and fosters a thriving democracy.”
5. Dr. Moksha Kalyanram Abhiramula, Advocate, Managing Partner, La Mintage Legal LLP
“Narendra Modiji, illustrious leader, esteemed Prime Minister for Bharat. MODI 3.0 – ki guarantees welfare, digital India, Aatmanirbhar, Amrit Peedi and Vikshit Bharat 2047 are promising and achievable. However, NDA decrease in seats in Lok Sabha elections 2024 is mainly due to voter fatigue and freebie offers of Rs. 1 lakh annually. INDIA blocs (combined 37 parties) with extraordinary efforts of grassroots mobilization and strategic alliances with regional parties are weaker claimed combinations.”
6. Chumki Bose, Chief Psychologist at Mindtribe.in
“In India, psychological identity is increasingly being replaced by political and religious identity. This shift stems from rising nationalism and communalism, where political and religious affiliations dictate social interactions, community belonging, and self-perception. The growing influence of political parties and religious groups fosters a collective identity, overshadowing individual psychological traits. This transformation affects social cohesion, with personal identities being subsumed under broader ideological narratives, reshaping societal dynamics and personal relationships in the process.”
7. Basant Goel, Dedicated Social Worker and Community Advocate
“The recent election results are a beacon of hope for enhanced social welfare initiatives. I am optimistic about the potential for new policies that prioritize the needs of the underprivileged and promote social equity. This is a pivotal moment to advance community development and create a more inclusive society where everyone has the opportunity to flourish.”
8. Raj Janagam, CEO, Vidhaata Consulting
“This election symbolizes the dawn of a new era of democratic DNA in our country. The mandate, if not dismissed in binary terms, should help us realize that the Indian voter is looking for genuine assistance beyond freebies and is far from gullible. Most importantly, it is a powerful message to the government that real help is needed, beyond mere promises of free ration and manifesto pledges.”
9. Alok Misra, CA, Founder Vanaprastha Resorts, yoga enthusiast
“We as a citizen of India have the collective responsibility for the General Welfare of the society. In democracy, the process of general election is very significant as by our vote we make or break our nation. Our vote should be based on the ideology of the Party as well as its performance on national, international issues besides governance, economic growth & pride in the preservation & promotion of national heritage.”
10. Anupam Mittal, CEO of People Group and Shaadi.com
“Wow, what a mandate, especially UP. That’s why they say, ‘Never underestimate the power of the common man’ Now, all eyes are on BJP’s internal power dynamics & NDA politics. Picture abhi baaki hai,”
11. Arpit Thakar, founder of Vakalat.com
“The results have restored faith in the famous line from our Constitution: ‘We the people of India.’ They affirm that no one can predetermine the number—whether 400 or 295—before elections. This has strengthened our democracy,” said Arpit Thakar, founder of Vakalat.com, a fast-growing digital platform for lawyers.
12. Hitesh Vishwakarma, President of Shri Bajrang Sena
“India has placed its faith in Narendra Modi, the ‘Hindu Hriday Samrat,’ for the third consecutive time, demonstrating that there is still much work to be done. From now on, no one will dare to promote synthetic secularism,” says Hitesh Vishwakarma, president of Shri Bajrang Sena, a saffron organization with more than 90 branches across the country.
13. Devam Sardana, Business Head, Lemonn
“Traditionally, election years have been beneficial for the stock market. Over the past 4-5 years, the lowest gain for the Nifty has been 13%. In the current election period, from January 1st to May 31st, the Nifty gained only around 4.5%. This suggests that there is still room for growth. On June 3, the Nifty experienced a single-day gain of 3.25%, indicating a potential for further growth. Historically, India has been a promising market for small-cap stocks. However, India is now a quasi-large cap market, which may lead to reduced volatility in the coming weeks. Foreign investors are likely to be interested in India due to the government’s focus on manufacturing, infrastructure, and investment. Key sectors to watch include capital goods, infrastructure, and manufacturing, particularly PSU companies.
The government has demonstrated its commitment to increasing capital expenditures, with a record spend of over 11 trillion INR in the last 6-7 years. This is expected to be aided by the 2 trillion INR dividend from the Reserve Bank of India. Despite some initial fears about mid-cap and small-cap stocks, stability is likely to return in the next 2-3 weeks. There may be some short-term profit booking, but the themes of manufacturing and infrastructure will continue to drive growth across large, mid, and small-cap companies. Overall, the market is poised for new all-time highs due to the stability in the economy, GDP numbers exceeding forecasts, and foreign investors’ interest in India’s growth story.”
14. Ricky Vasandani, CEO and Co-Founder, Solitario
“The continuity of the present government is promising for the future of the lab-grown diamond industry in India. Building on the measures taken during their last tenure, we anticipate extended support and innovation in this sector by the new administration as well. So far, the lab-grown diamond industry has seen some great initiatives, and the elimination of customs duties on essential seeds demonstrates a clear vision for establishing India as a global leader in sustainable, high-quality lab-grown diamonds. We expect that the union will continue to pave the way for significant growth and reduced import reliance, ultimately making India a powerhouse in the lab-grown diamond market.”
15. Lokesh Nigam, CEO and Co-Founder, Konverz.ai
“India, the world’s largest democracy, champions fairness, universal welfare, and continuous development, a commitment evident in our elections. Our society thrives on diverse thoughts and solutions reflective of the people’s mandates. Regardless of party ideologies, each government propels India’s story forward. Congratulations to the newly elected Parliamentarians and the Election Commission for ensuring free, fair, and impartial polls. I look forward to the new government steering India ahead.”
