Narendra Modi: A silent PM-in-waiting

The just-concluded Assembly elections in five states reinforced a general belief that the Congress will likely be shown the door by the electorate when the next parliamentary election is held in 2014. It is, however, not entirely clear which new coalition will replace it. The markets clearly believe it will be the National Democratic Alliance, led by the Bharatiya Janata Party under Narendra Modi - they have reached historic highs on that thought.

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