Conservative Friends of India (CF India), in partnership with accountancy and business advisory firm BDO LLP, held a lively panel discussion on the upcoming Indian election and its impact on UK- India relations today. Attended by both CF India members and members of the business community at Portcullis House, the discussion focussed on the key factors that would determine the outcome of the this year’s 16th Lok Sabha elections and the impact that this would have on bilateral trade and diplomatic relations with the UK.
Asked to give predictions on the outcome of the election, all of the panellists predicted that the BJP could win over 220 seats, whilst the ruling Congress party fared less well with predictions of less than 100 seats. Some key quotes from the panellists are below:
Nishma Gosrani: "Why do the slowest cars in India's new 8 lane highway drive in the fastest lanes? - That’s a problem the next leader needs to address."
“I don’t think that [a Modi-win] has been priced in...If there is a BJP-led government, the stock market will sky-rocket.”
Lord Bilimoria: "India's democracy is so strong that an unknown party a year ago has now swept into power in the nation's capital..."
"India had a woman Prime Minister before Britain and the United States hasn't yet had a woman leader...Women have been and will continue to be represented in all parts of Indian politics".
Arbinder Chatwal: "Different factors, ranging from corruption, food prices, caste and community, to access to jobs, education and healthcare, are all key factors to working class voters. For the corporate agenda, red tape, an overly complicated tax system, a distinct lack of decision-making from the incumbent government in what has been labelled "policy paralysis", will equally impact the outcome.
Vijay Goel: "Economic power translates to political clout, and as the central government is becoming weaker, the states are becoming stronger. This shift is so substantial, states and regional parties can now dictate national and international policies. How these regional parties fare and which coalitions they choose to join will have a massive influence on the national elections."