16 May 2014
Last updated at 15:46 ET
Results show the BJP won the biggest victory by any party for 30 years, gaining a majority in parliament and trouncing the outgoing Congress Party.
The controversial leader campaigned on promises to revive the economy.
Mr Modi has always denied the allegations over he was never charged.
'Real government' With votes still being counted, the BJP has won more than the 272 seats needed for a parliamentary majority.
With its allies, the party could get more than 330 seats.
"India has won, good days are about to come," Mr Modi tweeted as it became clear that the BJP had triumphed.
The tweet became the most retweeted in India's history.
The prime minister-elect told his supporters the victory was no ordinary one.
"In the 60-year history of Indian independence, I have never seen this in the Indian media, what you have done in our country," Mr Modi said, as supporters shouted "Modi, Modi, Modi".
He said he would rule for all Indians.
Continue reading the main story
US President Barack Obama phoned the prime minister-elect and said the US "looks forward to working with India to continue to build a strong partnership between our democracies", National Security Adviser Susan Rice wrote on Twitter.
Earlier UK Prime Minister David Cameron spoke to Mr Modi.
He received invitations to Washington and London, despite being persona non grata in both capitals following the 2002 riots in Gujarat.
Pakistani Prime Minister Nawaz Sharif commended the BJP's "impressive victory" in the election.
The election result will be a crushing blow to the Congress party, which is led by the Nehru-Gandhi family and has dominated Indian politics since independence.
It is only expected to win 44 seats.
Congress Party President Sonia Gandhi: "I respect the verdict of the people"
The election reflects voter anger with Congress, which has been
mired in serious corruption scandals and whose leadership has been
considered ineffective in recent years, analysts say.
Accepting defeat, Congress President Sonia Gandhi said: "We humbly respect the verdict of the people."
Narendra Modi thanked supporters for the election victory in his home state of Gujarat
Celebration of the BJP victory continued into the night in Delhi
Sonia and Rahul Gandhi said they took full responsibility for the Congress party's heavy defeat
More than 500 million votes are being counted, with the official results expected later on Friday
Share prices rallied to new highs on BJP promises of economic revival.
More than 500 million people voted in what is the world's biggest exercise in democracy.
Voter turnout in the mammoth nine-phase general election was a record 66.38%, beating the previous 1984 poll record.
Yogita Limaye reports: "There's great excitement because the stock market has hit another record high"
The BBC's Andrew North travelled to Narenda Modi's home state of Gujarat
India election
Indian election: Narendra Modi hails 'landmark' win
To see Videos:
http://www.bbc.com/news/world-asia-27439456
Narendra Modi: "We have to take India forward... we have to fulfil the dreams of more than a billion people"
Incoming Indian Prime Minister Narendra Modi has hailed a "landmark" election victory by his BJP party.
Thanking supporters in his own constituency in his home state
of Gujarat, Mr Modi said they had written a new chapter in the
country's history.Results show the BJP won the biggest victory by any party for 30 years, gaining a majority in parliament and trouncing the outgoing Congress Party.
The controversial leader campaigned on promises to revive the economy.
Continue reading the main story
The scene at the BJP headquarters resembles a carnival. The
entire building has been decorated with the party flag, giant posters of
Narendra Modi have been placed outside and large television screens are
displaying the vote count.
As the scale of the BJP's victory became apparent, the atmosphere became more frenzied.
Young men with "Modi for PM" emblazoned on their t-shirts danced, chanting his name. Others signed a huge banner with their hero's picture, congratulating him and even advising him on how to run the country.
And the street outside the party headquarters is already resembling a battlefield, strewn with the remains of firecrackers, the air thick with smoke.
At the scene
As the scale of the BJP's victory became apparent, the atmosphere became more frenzied.
Young men with "Modi for PM" emblazoned on their t-shirts danced, chanting his name. Others signed a huge banner with their hero's picture, congratulating him and even advising him on how to run the country.
And the street outside the party headquarters is already resembling a battlefield, strewn with the remains of firecrackers, the air thick with smoke.
However, many Indians still have
profound concerns over Mr Modi because of claims he did little to stop
communal riots in Gujarat in 2002 when he was first minister in the
state.
At least 1,000 people died, most of them Muslims.Mr Modi has always denied the allegations over he was never charged.
'Real government' With votes still being counted, the BJP has won more than the 272 seats needed for a parliamentary majority.
With its allies, the party could get more than 330 seats.
"India has won, good days are about to come," Mr Modi tweeted as it became clear that the BJP had triumphed.
The tweet became the most retweeted in India's history.
The prime minister-elect told his supporters the victory was no ordinary one.
"In the 60-year history of Indian independence, I have never seen this in the Indian media, what you have done in our country," Mr Modi said, as supporters shouted "Modi, Modi, Modi".
He said he would rule for all Indians.
Continue reading the main story
Tweets
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RT @PTI_News: US President Barack Obama invites Narendra Modi to visit Washington: White House.
Geeta Pandey 5 hours ago
Jump out of Tweet pane -
BBC News - Narendra Modi keeps family and hometown at arm's length http://t.co/ibyVDsNB6L
vivek raj 6 hours ago
Jump out of Tweet pane -
BJP crosses 272 - gets absolute majority on its own #Verdict2014
Sanjoy Majumder 6 hours ago
Jump out of Tweet pane -
Thanks bhaijaan! “@rasheedBBC: @TweetNitinS @BBCHindi nitin bhai excellent coverage always active on Twitter .well done”
Nitin Srivastava 7 hours ago
Jump out of Tweet pane -
RT @narendramodi: @Number10gov Thank you Prime Minister @David_Cameron for the wishes. Hoping to further strengthen India-UK relations.
Shilpa Kannan 7 hours ago
Jump out of Tweet pane
Content from Twitter. Learn more about content from Twitter.
"Real government doesn't belong to a community. It belongs to the entire country," he said.
Continue reading the main story
Shamila Chaudhary John Hopkins University"The elections offer a chance for a fresh start for the stalled India policy of the Obama administration”
"The real government will belong from Kashmir on top to Kanya Kumari [on India's southern tip] - that is a real government."
Several world leaders have congratulated Mr Modi on his victory.US President Barack Obama phoned the prime minister-elect and said the US "looks forward to working with India to continue to build a strong partnership between our democracies", National Security Adviser Susan Rice wrote on Twitter.
Earlier UK Prime Minister David Cameron spoke to Mr Modi.
He received invitations to Washington and London, despite being persona non grata in both capitals following the 2002 riots in Gujarat.
Pakistani Prime Minister Nawaz Sharif commended the BJP's "impressive victory" in the election.
The election result will be a crushing blow to the Congress party, which is led by the Nehru-Gandhi family and has dominated Indian politics since independence.
It is only expected to win 44 seats.
Congress Party President Sonia Gandhi: "I respect the verdict of the people"
Accepting defeat, Congress President Sonia Gandhi said: "We humbly respect the verdict of the people."
Narendra Modi thanked supporters for the election victory in his home state of Gujarat
Celebration of the BJP victory continued into the night in Delhi
Sonia and Rahul Gandhi said they took full responsibility for the Congress party's heavy defeat
More than 500 million votes are being counted, with the official results expected later on Friday
More than 500 million people voted in what is the world's biggest exercise in democracy.
Voter turnout in the mammoth nine-phase general election was a record 66.38%, beating the previous 1984 poll record.
Yogita Limaye reports: "There's great excitement because the stock market has hit another record high"
The BBC's Andrew North travelled to Narenda Modi's home state of Gujarat
- World's biggest exercise in electoral democracy; 814 million eligible voters
- A total of 8,251 candidates stood for election
- It started five weeks ago and a total of 551 million votes were cast, with a record 66.38% turnout
- The party or alliance that wins a majority in the 543-seat parliament forms the government
India elections
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Live coverage as the India's opposition BJP led by Narendra Modi celebrates what looks to be a historic victory in India's election.
Vote count
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Profile: Narendra Modi
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Biswas: Historic win
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Stock market cheers
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Vote explained
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Election - two-minute guide
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