India's Modi angles for third term with drastic action on inflation

Buoyed by economy, PM takes aim at potential political risk with rice export ban

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Strong economic growth has boosted Indian Prime Minister Narendra Modi's confidence in securing a third term. © Reuters

SATOSHI IWAKI and RYOSUKE HANADA, Nikkei staff writers

NEW DELHI/MUMBAI -- Indian Prime Minister Narendra Modi is ramping up preparations to seek a third term in the 2024 general election, banning certain rice exports as he clamps down on rising prices that could risk eroding support backed by his economic track record.

"In the third term of our government, India will become the world's third-largest economy," Modi said at the inauguration ceremony for a new complex set to serve as the venue for this year's Group of 20 summit -- his first direct mention of a third term.

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