India's projected FY22 growth could weaken to 12.2% from 13.5% if second wave worsens: Nomura
Share
Synopsis
The rapid increase in cases across states could lead to Nomura dialing down its projection of annual growth in the first quarter of this fiscal to 32.5% from the current 34.5%, implying near-zero or marginally negative sequential growth momentum.
Agencies
The Nomura India Business Resumption Index (NIBRI) for the week ended March 28, moderated to 94.8 from 95.1 a week earlier, reflecting a plateauing of mobility indicators, the report said.
India’s growth in the current fiscal could weaken to 12.2% from the previously forecast 13.5% if the second wave of Covid-19 infections worsen, according to Japanese brokerage Nomura.