Calling the results "people's mandate", the Congress chief said, "I had said that during the campaign 'janta maalik hai' (public is the decision maker) and today people have clearly given their decision. I congratulate the PM and BJP."
"What matters today is that people have decided Narendra Modi is the Prime Minister and I respect that," Gandhi said while briefing the media here.
He further maintained, "There are two visions. One is of Modi ji and another of Congress'. We will make our ideology win. But now we have to accept that in these elections, the BJP and Narendra Modi ji has won."
Boosting the morale of the party candidates and workers, he said, "Our candidates fought with all their heart. I say to the people of Congress party and those who believe in our ideology that you do not need to be scared."
Gandhi refused to comment on the mandate his party got and congratulated Modi.
"Frankly, today is the not the day to discuss what I think went wrong because people of India have clearly decided that Narendra Modi is going to be their Prime Minister and as an Indian, I respect that," he said.
He conceded defeat in Amethi parliamentary constituency - a bastion of the Nehru-Gandhi family and congratulated his BJP opponent Smriti Irani, whom he defeated with a landslide margin in 2014 general elections. "She has won and I congratulate her," he said. Gandhi has been an MP from the parliamentary constituency since 2004.
He is, however, looking at victory in Kerala's Wayanad.
After the Congress' drubbing in elections, there were reports that Gandhi has offered to resign as party president. Congress spokesperson Randeep Singh Surjewala termed these as "incorrect".
When asked on fixing responsibility for the electoral loss, Gandhi said, "This is between my party and I. Between me and the Congress CWC."
So far, the Bharatiya Janata Party (BJP) has won 22 seats and is leading on 282 others, hence clocking a comfortable majority all by itself.
Congress, on the other hand, has won 7 seats and is leading on 43 seats.