mobility will likely pave the way for the third wave of the pandemic in India even as easing of regional lockdown curbs help increase business operations, according to Nomura. “A key risk we are monitoring is whether the rapid rise in mobility increases the risk of a third wave, as new infection cases appear to be stabilising," said Sonal Varma and Aurodeep Nandi, economists Nomura.
The pace of vaccination in July has so far struggled to pick up from the June average of 3.8 million doses per day, although vaccinations are expected to rise at a faster pace from August, they said.
Meanwhile, the Nomura India Business Resumption Index (NIBRI) accelerated to 95.7 for the week ended 11 July from 91.0 in the previous week.