India | Vaccine surge to energize consumption in 2022

We still think India’s recovery will be subdued in H2 2021, despite a significant pick-up in vaccinations from August. The uptick in inoculations is mostly first doses, and it will take time for second doses to be administered. As per our estimates, around 40% of the population will be fully vaccinated by end 2021.

What you will learn from this report:

  • Based on the latest data, we have brought forward our timeline for 70% of the population to be fully vaccinated to Q1 2022, from Q2 earlier.
  • This should provide a strong fillip to sentiment early next year and spur consumption.
  • In the short-term, the relatively low proportion of the fully vaccinated will likely keep consumers cautious and constrain the recovery in services and manufacturing.
  • Mounting supply-side disruption are also a drag on momentum.

Topics: Asia, Global economics, India, Markets, Global economy, Coronavirus, Asia Pacific, Coronavirus vaccine, ASEAN, South East Asia, SEA, APAC, Vaccine rollout, Vaccines, Asian Economy, Covid19, Vaccine programmes, Covid restrictions, Covid crisis

report image for Vaccine surge to energize consumption in 2022