New Delhi — Until Now, Indian Prime Minister Narendra Modi Had Seemed Unstoppable

Modi and his Bharatiya Janata Party (BJP) have dominated the world's largest democracy since coming to power a decade ago, with their Hindu nationalist politics becoming deeply entrenched in India. Despite criticism for stoking religious tensions, eroding human rights, and muzzling the press, Modi has consistently been rated as one of the most popular leaders globally.

In January, Modi, 73, inaugurated a grand Hindu temple on a contested holy site in Ayodhya, fulfilling a longstanding promise to his supporters and stirring fears among India's Muslim minority, who have increasingly felt marginalized under his rule. This event was expected to solidify his support among Hindu voters as he sought a rare third term and a supermajority for his party in this year's election, which was widely predicted to be a landslide victory for the BJP.

Unexpected Election Results

On Tuesday, as early vote counts showed a far narrower result, it became clear that Modi's political dominance was being challenged. The constituency that includes Ayodhya was among those the BJP conceded to the opposition, marking a significant shift in voter sentiment.

Far from achieving the promised supermajority of 400 seats, the BJP secured only 240 out of 543 seats in the lower house of Parliament, falling short of the 272 needed for a simple majority. Despite this setback, the BJP, along with its allied parties, has enough seats to form a coalition government, ensuring Modi a third five-year term.

Political Repercussions and Resignations

Following the election, the Indian government announced that Modi and his cabinet had resigned, as is standard practice after an election. India’s president has requested that they remain in charge until a new government is formed, with the new cabinet scheduled to be sworn in on Saturday.

Although Modi will continue to lead, the election results are seen as a defeat for his ethnonationalist agenda and a surprising victory for the opposition, which has struggled to gain traction for years. The opposition has hailed the results as a comeback for multiparty democracy.

“It’s a rejection of a politics of hate,” said Rajeev Bhargava, director of the Institute of Indian Thought at Jawaharlal Nehru University. “Ordinary Hindus and Muslims have lived together peacefully, and they don’t like divisions being created.”

Opposition's Struggles and Success

India’s fractured opposition formed an alliance to challenge Modi, despite facing arrests of party leaders and the freezing of party funds, which they attributed to the BJP. As election results showed their efforts paying off, leaders of the Indian National Congress, the main opposition party, framed the election as a referendum on Modi.

Rahul Gandhi, leader of the Congress party, expressed confidence in the electorate’s decision. “In my mind, I knew that India’s population will stand united for the constitution,” Gandhi told reporters. “Today this was proven right. I had faith.”

Market Reactions and Public Sentiment

India’s benchmark stock indices, which had soared on Monday following exit polls predicting a significant Modi victory, experienced their worst day in four years on Tuesday before recovering some losses on Wednesday.

The BJP headquarters in New Delhi saw a subdued atmosphere as the election results trickled in, with many members leaving early in disappointment. However, the mood shifted when Modi arrived to speak, claiming victory and emphasizing the broader alliance rather than just the BJP.

Modi's Response and Future Implications

In his speech, Modi highlighted the historic nature of the coalition's victory. “This is the first time a government has come back for the third time,” Modi said, as supporters chanted Hindu nationalist slogans.

During the campaign, Modi and his deputies faced accusations of hate speech and inflammatory rhetoric, particularly against Muslims. In contrast, the opposition focused on addressing pressing issues such as unemployment, despite India being the world's fastest-growing major economy.

Economic concerns were frequently mentioned by voters interviewed by NBC News in the final days of the election. Rajeev Bhargava noted that the future focus will likely be on genuine material improvements in the lives of ordinary people. “And governments that fail to do it will be thrown out,” he said.

Economic Challenges and Voter Sentiment

The election results reflect a growing dissatisfaction among voters with the BJP's handling of economic issues. Despite India's rapid economic growth, unemployment and inflation have remained significant concerns for many Indians. This sentiment was echoed by voters who spoke to NBC News, highlighting the need for tangible improvements in living standards.

The Role of Religious Tensions

Modi's tenure has been marked by increasing religious tensions, with critics accusing him of fostering a divisive atmosphere that marginalizes religious minorities, particularly Muslims. The inauguration of the Hindu temple in Ayodhya, while a significant political milestone for Modi, also served to heighten these tensions. The election results suggest that voters are increasingly wary of such divisive politics.

Looking Ahead

As Modi prepares for his third term, the challenges ahead are clear. The election results indicate a desire among the electorate for a more inclusive and less divisive approach to governance. With the opposition gaining ground, the political landscape in India is set for a period of intense scrutiny and potential realignment. The focus will now be on how Modi and the BJP address the pressing economic and social issues that have come to the fore during this election.

The future of Indian politics will likely hinge on the ability of its leaders to bridge divisions and deliver on promises of economic stability and social harmony. Modi's third term presents an opportunity to address these challenges and redefine his legacy in the world's largest democracy.