Localised Lockdowns Cannot But Impinge On Economic Activity: Nirmal Bang
A mural depicting a person wearing a protective mask beside an empty street in New Delhi, India. (Photographer Anindito Mukherjee/Bloomberg)

Localised Lockdowns Cannot But Impinge On Economic Activity: Nirmal Bang

BQ Blue’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

Nirmal Bang Report

We assess the ‘state of affairs’ and stringency of containment measures across various states, and proclivity to further containment measures.

Most states have imposed some sort of restrictions, particularly in the contact intensive services sector.

That said, most containment restrictions are concentrated in urban centres. As a result, we believe that rural growth will continue to be a key driver.

Nevertheless, with 10 states accounting for approximately 80% of the cases in the country, we believe that the probability of a nationwide lockdown is low.

However, with these 10 states accounting for ~65% of India’s gross domestic product, we continue to believe that localised containment measures will act as a drag on growth.

Click on the attachment to read the full report:

Nirmal Bang State of Affairs - Economy Update-23 April 2021.pdf


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