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Indian media reported that Modi is likely to be sworn in as prime minister on Sunday.
Regional leaders including Bangladesh President Sheikh Hasina and Sri Lankan President Ranil Wickremesinghe have said they will attend the ceremony.
Modi on Tuesday insisted the election result was a victory that ensures he can get on with his agenda.
“Our third term will see major decisions taken and a new chapter of development for the country will be written,” Modi told cheering supporters in the capital New Delhi after his victory.
Commentators and exit polls predicted a landslide victory for Modi, who critics accuse of leading the jailing of opposition figures and trampling on the rights of India’s more than 200 million Muslim community.
But the BJP won only 240 seats in parliament, far lower than the 303 it won five years ago and 32 seats short of an outright majority.
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