Telugu Desam Party (TDP) party chief Chandrababu Naidu on Friday extended his support to the BJP-led NDA government and said PM Narendra Modi is not only the right leader but an asset to the country.

Accepting the alliance's proposal to elect Modi as the Prime Ministerial candidate, Naidu said: "Narendra Modi has a vision and a zeal, his execution is very perfect."

"He is executing all his policies with a true spirit," he said.

Naidu said: " Today, India is having the right leader - that is Narendra Modi."

He said," This is a very good opportunity for India, if you miss now, we will miss forever."

Narendra Modi on Friday called the BJP-led NDA "organic alliance" after he was elected as the leader of the ruling coalition in one step closer to becoming the premier of the country for a rare third consecutive term.

In his address to the NDA MP-elects, Modi called the alliance "organic".

"This alliance is a reflection of the spirit and soul of India," Modi said.

"All members of Parliament irrespective of their parties are all equal to me. This is why the NDA alliance has been going on for 30 years," the Prime Minister-elect added.

Revealing his plans for the next tenure, Modi said, "I say with a lot of responsibility that good governance, development, quality of life among people, reduction of government interference in the lives of middle and upper-middle class will be our goals.

"We will fulfill the dream of Viksit Bharat."

Modi will be the second politician after Pandit Jawaharlal Nehru to become Prime Minister for the third consecutive term.

However, unlike his previous two terms, Modi this time requires the support of his allies to form government as the BJP stopped at 240, 32 short of the majority mark (272).

The TDP (16 seats), JDU (12 seats), Eknath Shinde faction of Shiv Sena (7 seats) and Chirag Paswan's Lok Janshakti Party-Ram Vilas (5 seats) have emerged as the kingmakers.