Narendra Modi continues to lead India’s BJP-led NDA coalition as prime minister with no scheduled national elections or constitutional triggers before the 2029 Lok Sabha polls. Recent official milestones, including his completion of 25 years as head of government in October 2026 and recognition as the longest-serving elected prime minister, underscore institutional continuity and party support. Routine cabinet adjustments and state-level bypoll results favoring the NDA have not altered leadership dynamics. Ongoing opposition protests over electoral processes and governance issues have prompted security responses but remain contained without evidence of imminent coalition fracture or leadership change. Traders price the near-term stability reflected in these structural and political realities.