India’s Modi, allies to meet after humbling election verdict

Indian Prime Minister Narendra Modi was set to meet his allies on Wednesday to discuss forming the government, a day after his Hindu nationalist party lost its outright majority in parliament in a surprise election verdict.
According to official results announced late on Tuesday, Modi’s Bharatiya Janata Party (BJP) won 240 seats on its own in the general election, 32 short of the halfway mark in the 543-member decision-making lower house.
The outcome unnerved investors, with stocks falling steeply on Tuesday, since Modi would have to depend on at least disparate regional parties whose political loyalties have wavered over the years.
The National Democratic Alliance (NDA) led by the BJP won 293 seats, more than 20 ahead of the 272 needed to form a government.
The opposition INDIA alliance led by Rahul Gandhi’s centrist Congress party won 230 seats, more than forecast. Congress alone won 99, almost double the 52 it won in 2019 – a surprise jump that is expected to boost Gandhi’s standing.
The INDIA alliance was also expected to meet on Wednesday in New Delhi, and discuss a future course of action.