— This is the script of CNBC's news report for China's CCTV on April 7, Monday.
Welcome to the CNBC Business Daily.
The world's biggest election ever kicks off in India today...
It's a massive affair that will take place over 5 weeks, with the final results due May 16th.
The ruling Congress party will face off against the Hindu nationalist opposition, BJP... as over 814 million eligible voters cast their ballots.
This election broadly is going to be defined by 3 main economic issues: Rising Inflation, Fight Against Corruption and Affordable Housing.
What are the markets expecting from this elections?
Take a listen to what some of our analysts have to say.
[Taimur Baig, Chief Economist, Asia, Deutsche Bank] "A complex federal system like India needs a great deal of coalition building and consensus before imports and path breaking reforms can be implemented. I don't see this election outcome changing the course of that complexity or difficulty. The markets' patience will probably be tested in the second half of this year when it realized that despite an emphatic victory for the opposition, getting the economy revving again is going to take much longer than say 2014 or just a couple of quarters."
[Jim Walker, Founder & Managing Director, Asianomics] "When you look at Indian companies and what they face over time in terms of very high interest rates, high cost of capital... they make great returns on their investments in general. So there's lots of things to buy in India. You just need to get down and dusted and find out what they are."
[Adi Godrej, Chairman, Godrej Group] "The BJP-led coalition would be very growth oriented. They have always believed in lower rates of taxes. They've already announced that they would try and resolve some of the retrospective tax issues which has affected foreign direct investments into India. They, I think will take quicker decisions in implementations of programs. I think they're trying some solutions to the problems where the bureaucrats are not taking decisions as they are worried about future action against them if they did take decisions. So some of these problems which are quite obvious, I think they may come up with good solutions to it."
[Chetan Ahya, Chief Asia Economist, Morgan Stanley] "You need to address some of the macro-stability issues, which is like current account deficit, inflation and the banking system stability issues. So we call it financial stability issues. And then the second thing is about reviving growth, for which you need a really big capex cycle. So winning the first part is going to be possible for them to do, whoever the new government - the BJP or the congress. It's really the second part that's going to be difficult."
And that wraps up this edition of the Business Daily.
I'm Julia Wood, reporting from CNBC's Asian headquarters.