Finally some good news, business activity picks up sharply in June in India
Calibrated reopening of the economy by states as the number of fresh COVID-19 cases subside increased mobility and aided in a fast-paced increase in an index of business resumption last week, a Japanese brokerage said on Monday.
The Nomura India Business Resumption Index rebounded to 76 for the week ended June 13, up from the preceding week's 67.9, a note from the brokerage said.
The pre-pandemic value of the index is set at 100.
The index had risen consistently after the national lockdown of 2020, to almost to the pre-pandemic level in March but the second wave of the pandemic had led to multiple weeks of decline in the index.
"Much of this (increase in week to June 13) can be explained by the strong revival in mobility indicators, as states have begun a calibrated reopening, with Google mobility indices, the Apple Driving Index, and daily railway passenger revenues all rising," the brokerage said.