Business loves a strong leader, and big business tends to like Narendra Modi.
“Modi has done an unbelievable job in India,” JPMorgan Chase chief executive Jamie Dimon declared in a talk in New York back in April. His praise echoed the adulation India’s billionaires routinely lavish on the prime minister at official events.
But Dimon spoke before this month’s election upset in India, in which voters aggrieved with some Modi policies, including his government’s record on creating jobs, re-elected his Bharatiya Janata party for a third term but stripped it of its majority for the first time since 2014.
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