As Indian Prime Minister Narendra Modi was storming to victory in the election of 2014, he said that "acchhe din aane waale hain” — good times are coming.
Now, as Modi stands set to secure another term as prime minister in elections starting April 19, the value of India’s stock market has grown threefold since he first took office. India’s economy is almost twice as big as it was.
Stocks have risen so much because the number of Indians with enough wealth and appetite for investment risk has jumped — to nearly 5% of the population from barely 2%.