Mark Mobius remains confident in India's economic prospects, stating that he will maintain a bullish stance regardless of the election results.

• Despite the outcome of India's election, veteran emerging markets investor Mark Mobius remains bullish on the country.
• The election results for India will be released on Tuesday in the upcoming week. It is predicted that Prime Minister Narendra Modi and his Bharatiya Janata Party will effortlessly secure a third term, based on pre-poll surveys.
• Whether Modi can secure enough seats to amend the constitution remains the big question, according to Mobius, who spoke on CNBC's "Street Signs Asia" on Thursday.

Despite the outcome of India's election, veteran emerging markets investor Mark Mobius remains bullish on the country.

Nearly one billion people in the world's most populous nation cast their ballots on April 19 during a multi-phase election.

The election results for India will be released on Tuesday in the upcoming week. It is predicted that Prime Minister Narendra Modi and his Bharatiya Janata Party will effortlessly secure a third term, based on pre-poll surveys.

Modi is reportedly confident that the BJP and its coalition alliance will win a total of 400 seats. However, the margin of victory remains uncertain, causing market anxiety among investors.

Whether Modi can secure enough seats to amend the constitution remains the big question, according to Mobius, who spoke on CNBC's "Street Signs Asia" on Thursday.

"If it doesn't happen, it's not a big deal, and there will still be significant growth for India in the future."

The Indian economy surpassed expectations with an impressive 8.4% growth rate in the October to December quarter, driven by robust private consumption and manufacturing activity.

The finance ministry emphasized that the country is on course to become the third-largest economy globally by 2027, with a GDP of $5 trillion.

Gautam Chhaochharia, head of global markets for India at UBS, stated that foreign investors are adopting a "wait-and-watch mode" prior to the election results.

"According to him, investors should be aware of short-term event risk around elections, but India's economic fundamentals remain strong and solid."

The government's primary focus for the next term will likely be to maintain India's manufacturing sector, regardless of whether Modi returns with a small or large majority, according to Chhaochharia.

S&P global ratings upgraded India's outlook to "positive" from "stable" due to its robust economic expansion positively affecting credit metrics, according to a note.

Despite the election results, S&P anticipates continued economic reforms and fiscal policies, supporting growth momentum for the next two to three years.

Mobius stated that India's infrastructure sector will be a significant growth area. As a result, we are particularly interested in infrastructure-related stocks in India, which will be a major push forward.

S&P emphasized the importance of the next government's ability to fund large infrastructure investments without significantly increasing the country's current account deficit.

If India can significantly reduce its fiscal deficit while achieving its objectives, its rating support will improve over time.