Modi Has Chance to Redefine Indian Politics: U.S. Think Tanks

"Third, since 1984, single party majority governments have been viewed as obsolete. Although the BJP will likely carry on with its alliance to form a government, it will do so out of choice rather than necessity," he said.

"Finally, regional parties which had been ascendant since 1989, have taken a hit these elections. Their vote share, which had peaked at 53 per cent in 2009, looks to fall short of the half-way mark," Vaishnav opined.

According to Tellis, the real unanswerable question now is the future of India's grand old party, the Congress.

"It is too early to declare its demise. But clearly dynastic politics has been discredited as has economic populism. If the Congress brings to the fore a new generation of leaders--who already exist in its midst--it stands a second chance," he said.

"For India's sake, the Congress must thrive as an alternative. The success of Indian democracy requires clear political alternatives," Tellis said.

Leela Fernandes, professor of political science at University of Michigan, said "The more significant issues at hand are what the elections mean for the future of Indian politics."

"The presence of a strong opposition party is as important to a strong democracy as the ability to produce a stable government with a clear majority for a single party," Fernandes said.

Brian Min, assistant professor of political science from the University of Michigan, said the "Congress' strategy to lure rural voters by promising lavish new spending did not work this time around. It no longer seems that Indians feel locked into voting for the same party over and over."