The veneer of strongman invulnerability that cloaked India’s Narendra Modi for nearly a quarter century is crashing down around his Bharatiya Janata Party (BJP).
Markets are already expressing their disappointment at Modi’s party losing its majority in parliament, forcing the prime minister to rely on allies to form a government. A BJP coalition has secured enough seats to form a government – if it can hold things together.
Modi’s party fell short of the 272-seat majority on its own. The National Democratic Alliance, led by BJP, seems on course to secure 293 seats. The opposition Indian National Developmental Inclusive Alliance may win 229 seats.
It’s something of a political “black swan” for a man who’s dominated Indian politics since 2014. But also whose legend had loomed large since the early 2000s, back when he became chief minister of Gujarat.