What next for energy in post-election India?

India has entered a new political era following the reduction in support for Prime Minister Narendra Modi which was displayed for all to see in the country’s recent general election.
Coming to power in 2014 on the back of a huge majority, a feat which was repeated in 2019, the latest election verdict left Prime Minister Modi’s Bharatiya Janata (BJP) party well short of the controlling 272 seats which was required for outright leadership.
Although many commentators had forecast another healthy BJP majority, possibly close to 400 seats, a significant proportion of voters had a different view of the future, preferring to give their leader of the past 10 years a somewhat more restricted power base.
Although Prime Minister Modi gets to carry on, fresh questions are being asked, both within India and beyond, not least by business leaders and investors.
On the day the election result became clear, for example, the Indian stock market suffered an 8% fall, reflecting anxieties about businesses which might not be able to count on having as much government backing in the future as has been the case over the last few years.
Admittedly, the market...