What it means for economy, investments and markets
As the Bharatiya Janata Party (BJP) is leading in West Bengal coming close to a historic win in the state, markets analysts have predicted that the regime change will lead to spike in state's economic growth. Early trends are indicating a strong surge for the Bharatiya Janata Party, which is leading in 185 seats, while the All India Trinamool Congress trails with around 100.
Sunil Singhania, founder of Abakkus Asset Manager, while speaking at an industry event said, “Regime change in West Bengal could add 0.5 per cent to our GDP. It can add significant growth to our country and has the potential to be a huge multiplier to our economy. Bengal used to be the business hub and slowly, because of the government policies, businesses exited the state. We have seen how a forward-looking government in a large state like UP can transform. West Bengal has potential to become a $1 trillion economy."
