Narendra Modi’s third term as prime minister, secured in the 2024 general election and running through the next Lok Sabha vote due by mid-2029, underpins the overwhelming trader consensus against his departure by the end of 2026. The Bharatiya Janata Party and its National Democratic Alliance allies have extended their dominance through recent state-level victories, including in West Bengal, reinforcing institutional control and limiting immediate pressure for leadership change despite Modi turning 76 and some polling showing gradual erosion in personal approval ratings. No constitutional term limits apply, and official schedules show him continuing routine governance, cabinet decisions, and diplomatic engagement without signals of imminent resignation or loss of parliamentary confidence. Late developments that could still shift the outcome include acute health concerns, a sudden collapse in coalition support, or an unanticipated scandal severe enough to force a leadership transition before the resolution date.