Modi's alliance wins majority in India's election, paving way for his 3rd term

India's Prime Minister Narendra Modi has declared victory in the country's general election after his alliance secured a majority in the lower house. But his own party fell far short of winning a single-party majority.

Vote counting started on Tuesday. The Election Commission says all 543 seats were declared by early Wednesday, local time. Modi's Bharatiya Janata Party-led alliance won 293 seats.

Modi said at his party's headquarters in New Delhi, "Today's victory is the victory of the world's biggest democracy."

The ruling coalition is expected to urgently hold talks to maintain the Modi administration for a third term. However, Modi's BJP party was reduced considerably to 240 seats.

On the other hand, an opposition alliance increased its seats significantly, despite what exit polls had predicted.

Analysts point out that voters, mainly in rural areas, are dissatisfied with deepening economic disparities and worsening unemployment exacerbated during Modi's tenure despite strong economic growth.

Rahul Gandhi of the largest opposition Indian National Congress party said the election clearly showed that Indian people want Modi to step down.

Gandhi is expected to have discussions with other opposition parties regarding future strategies, possibly including a formation of alliances aimed at seeking a change of power.