Business activity in India almost touches pre-pandemic levels: Nomura

by Nidhi Bhati

The Nomura India Business Resumption Index (NIBRI) inched updwards to 99.3 for the week ending 21 February 2021 from 98.5 in the previous week. This shows that the business activity has nearly normalised to the pre-Covid-19 times. However, Nomura cautioned that the resurgence of Covid-19 cases in the state of Maharashtra poses a near-term risk to growth normalisation in the coming weeks. But, despite the near-term downside risks, it continues to maintain medium-term optimism underpinned by fiscal activism, easy financial conditions, base effects and faster global growth.