Sunday, May 17, 2009

India - Election results from the world's largest democracy

Newswire: India's Election Results

It is a beautiful process when a democratic country experiences a peaceful transition of leadership.

India's voters have spoken. On one side, celebrations swept India as supporters of the Congress Party celebrated their victory.

On the other, the opposition Bharatiya Janata Party, conceded defeat.

"The party accepts the verdict of the voters will full respect."

The Congress Party won as many as 260 seats. This puts Congress just short of a independent majority, but close enough to be able to form a stable coalition.

Good news for financial markets, which will welcome a stronger government with more capacity to push through market reforms. Expect Bombay's stock exchange to rally on Monday.