India as we know has returned the Congress Party and at the same time lessened its dependence on minority parties. Its success also means the Government can go ahead with its economic reforms. And also now the Indian-U.S. nuclear agreement, a cornerstone of closer ties with Washington can go ahead. This is assured with the demise of the Indian Communist Party which is now out the back door of Indian politics.
Under the agreement passed by the U.S. Congress last year the USA agreed to share civilian nuclear technology, ending a 30-year ban on sales of nuclear fuel and technology that was imposed after India tested and developed a nuclear bomb.
Deeplode thinks that the election results may see change in Obama' s Asian policy towards India just to remind China that it does not yet hold a full hand. And certainly the crushing blow to the Communist Party could mean it may never recover its voter base.
Manmohan Singh will remain as leader but Deeplode sees Rahul Gandhi as simply waiting.
But what this all means is that the capital inflow into India is not captive to minority interests..eg the Communist Party....Major infra structure projects will now go ahead. Australia will benefit.
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