India's Prime Minister Atal Behari Vajpayee is set to resign as his governing BJP party faces defeat in the country's general election.
With a third of the results declared, the main opposition Congress party has won 162 seats and is projected to beat the governing BJP-led alliance.
Nearly 380 million people voted in elections held over three weeks and the counting of votes took place in 1,214 centres across the country.
What are your views on the elections? Can India be a world power?
You put your questions to Vijay Nambiar, India's Ambassador to the UN, and Indian-born entrepreneur, Lord Paul in our global phone-in programme Talking Point.
This debate is now closed. Read a selection of your comments below.
The following comments reflect the balance of the opinion we have received:
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I have seen governments come and go and not much has changed
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I hope with all my heart that this is the start of a new age in a country with a wonderful heritage. Sadly however, I have seen governments come and go and not much has changed. The corruption which taints most politicians needs to be stamped out. Until and unless people who take care of the nation before they take care of themselves (as is their duty) take the helm, 'New India' will remain the same old story.
Darab Khan, London, UK
I think a come-back of Congress is a good sign, not because the BJP led government was bad, but because such a power change every 5 years will keep our politicians accountable in what they do. A change in mandate is a sure sign that India is maturing as a democracy and will certainly be a power to reckon with in the near future.
A. Mukherji, Cambridge, UK/India
The people of India have lost by electing a blurred visioned government such as Congress. The BJP has delivered results unlike any other governing party, and I strongly believe they will return!
Nishank Motwani, Kanpur, India
I don't mind who wins the elections, I am just concerned about the service they will be providing to the nation.
Kashish, Bombay
A person of Indian origin can never become the president of the USA or the British PM. I can only hope that the Congress party fails in its attempts to exploit the sentiments of poor Indians using the mannequin called Sonia Gandhi. I personally prefer Laloo Prasad Yadav to Sonia Gandhi any day.
Ram, Ohio, USA
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The low turnout this time indicates a disenchantment with the system
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The Indian elections are often claimed to be the largest democratic exercise in the world but the low turnout this time indicates a disenchantment with the system. If this nonchalance is shrugged off, the possibility of an India rising in power is a realistic one.
Hitesh, Atlanta, USA
India is really new and advancing democracy to higher elevations - this is where African states should be gearing towards.
Simbwa, Kampala, Uganda
India needs effective democracy, not just a label of democracy.
Iftakhar Latif, Assam, India
An Indian writer once said: A country is not its land but its people. And how can be a country be a new country, where all its people don't have access to basic services? I believe what India needs is a comprehensive development in basic services.
Ravi, Vermont, USA
I think this is a glimpse of the New India. Indians have done well. No matter what we say about rural un/under development or illiteracy rates, if we look at India with all its problems as given, I think India has achieved which no other country will ever be able to achieve. (Of course, this is conditional on the problems). Their next door neighbours were and still are propped up by Washington DC.
Stephen, USA
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