Strategy Note /
India

Modi repeals farmer laws, choosing re-election over reform

  • 2020 Farmer Laws (reform of agriculture, which is 15% of GDP) set to be repealed; a negative surprise

  • Modi prioritises re-election (state elections in 2022, general in 2024) over reform (40% of workforce in agriculture)

  • Negative but not deal-breaker for India (equities up 24% ytd, trailing PB forward PE on 25% premium to 5-year median)

Modi repeals farmer laws, choosing re-election over reform
Hasnain Malik
Hasnain Malik

Strategy & Head of Equity Research

Tellimer Research
19 November 2021
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