Nomura and HSBC, multinational banks, foresee continuity at the Centre following India's ongoing Lok Sabha elections. They advocate tougher reforms, including land and labor reforms, to boost growth. Nomura predicts average annual GDP growth of 7% between 2024-28 and suggests politically contentious reforms around land, labor, and capital. HSBC predicts BJP's increased tally from 303 to 323 seats, with the NDA coalition reaching 377, and suggests that easy-to-moderate reforms could deliver 6.5% growth, while moderate-to-hard reforms are needed for over 7.5% growth.