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Jefferies' Christopher Wood praises PM Modi: he has done more than any other world leader

Jefferies' Christopher Wood praises PM Modi: he has done more than any other world leader

 


Christopher Wood, of Jefferies, said Prime Minister Modi had brought more positive change to people's lives in his ten years in power “than any other government leader in the world today”. In his latest GREED & Fear note, Christopher Wood noted that foreign media attempted to report that the BJP was not doing well in the elections, so much so that Prime Minister Modis' speeches were being scrutinized for language seen as populist.

Prime Minister Narendra Modi in Delhi.  Christopher Wood said Prime Minister Modi has made a huge difference to India.  (Vipin Kumar/HT Photo)
Prime Minister Narendra Modi in Delhi. Christopher Wood said Prime Minister Modi has made a huge difference to India. (Vipin Kumar/HT Photo)

He said: “The election is now halfway through with two thirds of the seats already voted on. The overall turnout rate is 2 points below the 2019 level so far, with Phases 1 and 2 seeing much lower turnout, 5 points and 3.6 points respectively below 2019 levels. This raises concerns that the BJP may not do as well as previously thought.

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But Prime Minister Modi has made a huge difference to India, he said, adding that the most fundamental change can be seen in the construction of 11.10 million household toilets in rural India.

He said: “This is why a repeat of the BJP’s shock defeat of 2004 remains extremely unlikely. At that time, the Sensex had corrected by 17% in the two days following the May 13, 2004 election results. From a GREED perspective and fears, the outcome would be even worse in the event of a repeat of a such a shocking result.

“Even if the BJP wins only by the number of seats in the last general elections held in 2019, that is more than enough to rule the government, as the last five years have demonstrated. In the last general elections in 2019, the BJP won won 303 seats in the Lok Sabha, up from 282 in 2014. Remember that Modi had initially set a target of 370 seats for the BJP and 400+ for the BJP-led alliance (NDA) in the general elections in course,” he said.

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