Optimism in India's growth shows little signs of slowing, but policy continuity will be crucial if it wants to see strong growth in the next five years, Rob Subbaraman, Nomura's chief economist and head of global markets research Asia ex-Japan, said.
India's elections are underway and Modi is widely expected to win a strong mandate for a third term in office.
That projection is much higher than Nomura's growth outlook for China (3.9%), Singapore (2.5%) and South Korea (1.8%) in the same period.
"With China's economy slowing, India is likely to be the fastest growing Asian economy this decade," Nomura said in a recent note.
"Irrespective of the election outcome, policy continuity and a focus on macroeconomic stability are important growth underpinnings," the bank's analysts added.
Persons:
Rob Subbaraman, Modi, Subbaraman, Nomura
Organizations:
Modi, CNBC, Bharatiya Janata Party
Locations:
Asia, Japan, China, Singapore, South Korea, India