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Hindu nationalist Narendra Modi, prime ministerial candidate for India's main opposition Bharatiya Janata Party (BJP) and Gujarat's chief minister, attends the Confederation of All India Traders (CAIT) national convention in New Delhi February 27, 2014.
Hindu nationalist Narendra Modi, prime ministerial candidate for India's main opposition Bharatiya Janata Party (BJP) and Gujarat's chief minister, attends the Confederation of All India Traders (CAIT) national convention in New Delhi February 27, 2014.
(REUTERS)

Investing based on new political leadership is a risky bet

Investors have big hopes pinned on Narendra Modi, India’s new prime minister-designate.

India’s benchmark Sensex index has surged more than 10 per cent over the past two weeks, hitting a succession of record highs amid hopes that the economy is about to get a big boost.

But is new political leadership, and the fresh ideas it brings, really worth betting on – in India, or anywhere?