India's richest state is set to be ruled by parties opposed to Prime Minister Narendra Modi's Bharatiya Janata Party, jeopardising a Japanese-backed bullet-train project opposed by farmers. The BJP's inability to pull together voters in Maharashtra, of which Mumbai is capital, has meant that three parties, including a former BJP ally, will form the government. That is a major setback for Modi after his landslide victory in general elections this year. It could also hinder the bullet train project, a $17 billion investment largely financed by a long-term, low-cost loan ...
BJP's loss of power in Maharashtra may derail $17-bn bullet train project
Any delay of the project is likely to undermine investor confidence, at a time when growth has slowed to its weakest pace in years