Business resumption index dips

The Nomura India Business Resumption Index (NIBRI) fell to 125.4 for the week ended April 3 from 125.9 in the previous week and the record high of 126.2, 25.4 percentage points (pp) above its pre-pandemic level.

As Covid-19 becomes endemic, mobility has rapidly picked up, with a recovery in contact-intensive activities.

"However, there are headwinds from higher fuel prices, with a broad-based rise in inflationary pressures weighing on demand, as was the case for March auto sales," Nomura said in a statement on Monday.


Disrupted global supply chains and weaker global growth prospects from the Russia-Ukraine war have also weighed on the recovery, it said.

There was a surprising 22.5 pp fall in the Apple driving index from the previous week, while the Google workplace and retail & recreation indices rose 13.1 pp and 2.6 pp, respectively.