Narendra Modi’s third term as prime minister runs through the 2029 general election, giving his government a clear institutional runway well beyond June 2027. The BJP-led coalition retains a parliamentary majority, and senior party figures including Maharashtra Chief Minister Devendra Fadnavis have publicly affirmed continuity past the next Lok Sabha vote. Recent youth-led protests over electoral rolls and the chief election commissioner have drawn opposition support but remain focused on institutional grievances rather than immediate regime change. Cabinet adjustments and ministerial departures reflect routine organizational preparations ahead of 2029 rather than leadership instability. Traders therefore price an 89 percent chance that Modi remains in office through mid-2027, consistent with the absence of credible early-exit triggers such as coalition collapse or loss of parliamentary confidence.