The end of 2021 brought with it the start of a fresh deluge of daily new COVID-19 infections in India, driven by the Omicron variant. But developments have been such that Reserve Bank of India staff wrote in an article on January 17 that near-term economic prospects had brightened on hopes that the surge in cases caused by the Omicron variant may only be a "flash flood" and not a wave.
Numbers clearly seem to suggest so. As has been the case in other countries, there are indications that this phase may be shorter in duration compared to the deadly second wave India experienced in the first half of 2021. The seven-day moving average for daily new cases in India seems to be plateauing within a fortnight of daily new cases crossing the 1-lakh mark.

While daily new cases in this third wave is perhaps yet to peak on a national level, certain regions are already seeing a decline. This could hold clues for the county as a whole.
"New cases in Mumbai seem to have achieved its peak (20,971 cases on January 7) but cases in other districts (Bengaluru, Pune etc.) are showing increase in daily new numbers. So, if other districts also implement strict measures and control the spread, then national peak may come within 2-3 weeks after Mumbai peak,” said Soumya Kanti Ghosh, State Bank of India's Group Chief Economic Adviser, in a note on January 18.
Data for Delhi suggests the peak has been reached in the Capital, with the seven-day moving average for daily new cases at 20,575 as per an update on January 18, down from 23,529 on January 15.

But other indicators suggest caution must continue to be exercised. While the positivity rate in Delhi has reduced significantly in the last few days, the bed occupancy percentage has stabilised at its peak of 15-16 percent.

According to Ghosh, the average time taken for daily new cases to peak is 54 days in countries majorly affected by Omicron. If the same thumb-rule is applied for India, the peak would be reached in the third week of February 2022. However, according to Manindra Agrawal, a professor at Indian Institute of Technology-Kanpur, the third wave may peak this weekend itself.
In a Twitter thread, Agrawal said on January 17 that data up to January 11 indicated cases would peak on January 23 with nearly 7.2 lakh cases per day.
"Actual trajectory is already deviating significantly, and actual peak is unlikely to cross 4 lakh cases/day," Agrawal said.
Agrawal is one of the brains behind the SUTRA – or Susceptible, Undetected, Tested (positive), and Removed Approach – mathematical model for pandemics.
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