By  on May 18, 2014

NEW DELHI — The clear victory by Narendra Modi’s Bharatiya Janata Party in India’s elections is a clear signal that the country will now be open for business, industry analysts said, although international retailers fear they could face even more restrictions on foreign investment.

The BJP won the first majority by a single party in India in 30 years after pro-business party leader and prime ministerial candidate Modi vowed to focus on economic growth and government deregulation. Modi’s victory ends decades of rule by the more socialist-leaning Congress Party, the historic power center of the Gandhi family.

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