India's GDP growth appears poised for a sequential rebound in Q3, but industrial production could contract sequentially in September and October due to chip and coal shortages, global financial services NSE 1.07 % group Nomura has said. Its separately released weekly tracker, the Nomura India Business Resumption Index (NIBRI), showed economic activity moderated to 105.3 for the week ended October 24 from an all-time high of 109.2 (revised up from 108.8) in the prior week. Despite the moderation, the index is still 5.3 percentage points above pre-pandemic levels. Nomura said the country's GDP growth could be about 1.0 percentage point lower in Q4, relative to base case (5.3% y-o-y).