As the world gears up for its largest ever democratic election this week investors are getting excited about the prospect of change for India's beleaguered economy, but analysts told CNBC investors need to take a breath.
Some 814 million eligible voters will head to the polls this week to choose representatives for the 543-seat Lok Sabha, or lower house of Parliament, in what will be the biggest election in history.
Voting will last until May 12 and votes will be counted on May 16.
"People are watching the elections because they are looking for that change, especially investors… as it will signal a change of pace," said Tony Nash, vice president at economic research firm IHS.
(Read More: World's biggest election: Game changer for India?)
"You only have to look at the Indian markets to see how they popped a week ago, and that vision and that hope even popped pre-election," he added, referring to Indian stocks' 3 percent surge since mid-March.
Stocks on the Sensex are up 12 percent since early February.
If recent opinion polls turn out to be correct, the opposition Bharatiya Janata Party (BJP), led by Prime Ministerial candidate Narendra Modi, is likely to win, a prospect which has excited investors given Modi's more business friendly stance.