India chooses president, reforms seen next on agenda

Indian lawmakers voted for a new president on Thursday, ending weeks of wrangling and opening a much-hyped political window billed as the best chance for Prime Minister Manmohan Singh to launch a wave of reforms and reverse an economic slowdown.

India's markets are anticipating quick action to relax investment rules and cut subsidies once the voting for the ceremonial post is out of the way. Stocks and the rupee outperformed other Asian markets this month after Singh suggested he will act after the election.