India on verge of leaving Covid behind & see near-full recovery

MUMBAI: Back in September, the Indian economy was in a technical recession with many predicting that the worst was yet to come given the rampant job losses and surging Covid-19 cases. Six months since, the economy appears to be on the verge of recovering from the impact of the pandemic fully. Nomura’s India Business Resumption Index (NIBRI), a measurement for tracking the extent of normalisation in the economy, has hit 98.1 points during the fortnight ended February 14. The measure may very well hit the 100 mark, which will signify full recovery by the end of this month. “The continued recovery in NIBRI is strongly predicated on the containment of the pandemic. Beyond this, we remain upbeat...