NEW DELHI (AFP) - India's ruling Congress party conceded defeat on Friday after 10 years in power as early election results showed a landslide win for the opposition Bharatiya Janata Party under hardline leader Narendra Modi.

"We accept defeat. We are ready to sit in the opposition," senior Congress leader and spokesman Rajeev Shukla told reporters at party headquarters in New Delhi.

"Modi promised the moon and stars to the people. People bought that dream," he added.