India, the world's largest democracy and tenth largest economy, this year vividly illustrated for the world the tight link between politics and economics. The rapidly growing middle class, fed up with declining growth rates and the weak economic policies of the Gandhi led Congress party, recently handed a sweeping victory to Narendra Mody, a highly controversial figure with strong links to far right Hindu Nationalist movement. Mody's government vows to restore investor confidence and reign in inflation, and despite fears amongst some of the threat he presents to India's secularism, his strong electoral mandate and commitment to growth has inspired optimism among the business and investment community, reflected in the soaring Sensex stock index and strengthening currency.
India GDP Annual Growth Rate
Percent Changes in Gross Domestic Product
Sources: Tradingeconomics.com | Ministry of Statistics and Programme Implementation (MOSPI)
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