US vows to work closely with new Indian premier

US President Barack Obama on Monday hailed India’s massive general election and pledged to work closely with the next government in New Delhi.

By (Agencies)

Published: Thu 15 May 2014, 12:43 AM

Last updated: Sat 4 Apr 2015, 1:54 AM

India’s stock market and currency rallied on Tuesday on exit polls predicting election victory for a pro-business Bharatiya Janata Party (BJP) and its allies.

“India has set an example for the world in holding the largest democratic election in history, a vibrant demonstration of our shared values of diversity and freedom,” Obama said in a statement. “We look forward to the formation of a new government once election results are announced and to working closely with India’s next administration to make the coming years equally transformative.”

Obama did not mention the BJP under Hindu nationalist Narendra Modi, who the US had for years refused to deal with over allegations he failed to swiftly curb deadly 2002 anti-Muslim riots.

The Sensex stock index rose more than two per cent to an all-time high of 24,068.94 before paring its gain and closing at 23,871.23. The dollar, meanwhile, fell to Rs59.60 from Rs60.05 on Monday, but regained to close at Rs59.68.

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