Covid-19 cases in India are seeing a continuous rise and now in a note on Friday, financial services firm Nomura said that India could see three million cases a day if the Omicron-driven third wave follows the same trajectory as that in the United States. The caseload could be smaller at 740,000 a day if the per million infections are similar to South Africa, it said. Nomura said that the third wave will cause inflation and decrease the growth of the country leading RBI into policy normalization (repo rate hikes) from April onwards.
“The emergence of the Omicron variant has increased uncertainty, but we see Asia’s bumpy upcycle extending into H1 2022, supported by easing supply bottlenecks,” Nomura said. As per the health ministry data updated on Friday, a mark of 100,000 cases was crossed on Thursday. India reported 1,17,100 cases on Friday.
India is also seeing a hike the in omicron cases. Mumbai, Kolkata, Delhi, Tamil Nadu are some of the major places that are witnessing the threat of omicron. The national capital has announced mini lockdown whereas strict restrictions have been imposed in Mumbai. Other states and cities have also imposed restrictions.