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Lockdowns to wipe $1.25 billion off Indian economy; 140 bps from Q1 GDP in a week: Barclays On a quarterly basis, the impact will be much higher a 140 bps loss of nominal GDP in the first quarter, Barclays said in the report PTI | April 14, 2021 | Updated 12:42 IST Amid surging pandemic cases forcing many states to curb mobility and businesses, a report has said these localised lockdowns in key economic hubs can cost the economy an average of $1.25 billion each week and may shave off 140 bps from the Q1 nominal GDP. If the current restrictions remain in place until May-end, the cumulative loss of economic and commercial activity could be around$ 10.5 billion or around 34 bps of nominal GDP, British brokerage Barclays said. The country leads the whole world in fresh virus caseload now, higher than the second and third most hit nations of the US and Brazil with a daily infection of over 1.62 lakh cases on Tuesday and 879 deaths.

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