Social, political agenda more important for Modi than economy: Chris Wood

Earlier this month, Wood had suggested that the Indian economy was a victim of Narendra Modi government's shock therapy since he assumed power in 2014

Social and political agenda seems to be more important for the Narendra Modi-led government than economy as things stand, feels Christopher Wood, global head of equity strategy at Jefferies. Though he remains a supporter of Modi’s structural reforms, the recent developments relating to the citizenship law, Wood wrote in his weekly note (GREED & fear) to investors, have seemingly confirmed the longstanding criticism of Modi and the Bharatiya Janata Party (BJP) – that they are committed to pursuing a Hindu supremacist agenda.

While the above issue may not have a direct influence on the Indian stock market unless there is