India's Business Resumption Activity Now Above Pre-Pandemic Levels; Touches A New High On Week Ending 29 Aug: Report

As per Japanese brokerage and research firm Nomura, the business resumption activity in India has continued to surge above the pre-pandemic levels in the week ended 29 August and has now touched a new high, reports Economic Times.

As per the brokerage, the Nomura India Business Resumption Index (NIBRI) rose to 102.7 for the week ending 29 August from 101.3 in the prior week. It compares the business activity with the pre-pandemic levels of March 2020.

As per Nomura, the NIBRI has increased by 5.6 percentage points in August 2021. It should be noted that the index had also recorded a 17.1 and 15 percentage points jump in the months of July and June respectively.

Nomura said that the country's GDP growth will sequentially rebound in the ongoing September quarter. It has maintained its above-consensus GDP growth forecast of 10.4 per cent in FY22.

It also took note of the rising cases of COVID-19 in Kerala, and the rising pace of vaccinations. It said that at the present pace, India could fully vaccinate as much as half of its population by end of 2021.