Growth indicators fast-approaching pre-pandemic levels: Nomura

The latest readings of the Nomura India Normalization Index (NINI) suggest that economic growth, after a shallow dent in May due to the second wave lockdowns, looks to have rebounded in June, with the economic conditions looking similar to the situation in April. The overall normalization index for consumption rose to 85.1 per cent of peak capacity in June from 51.1 per cent in May and 85.9 per cent in April. Nomura, in its Asia Insights report, further stated that India’s GDP growth for 2021-22 is projected at 10.4 per cent, aided by faster vaccinations from August, steady global growth and easy financial conditions, with a severe third wave a key downside risk.