Are expectations too high for Modi’s India?

All eyes will be on India next week as its much-talked-about election comes to an end. Opinion polls have consistently suggested that the opposition BJP party, which has nominated Narendra Modi as its candidate for prime minister, will secure the most seats. Hopes are high that the change in leadership will spur a turnaround in India’s flagging economy. However, we remain sceptical that much will change, and will not be raising our forecasts until we see real progress on reform.