Sonal Varma

Sonal Varma is an Indian economist who is currently working as the Managing Director and Chief Economist (India and Asia ex-Japan) for Nomura Holdings. She is based in Nomura Holdings' Singapore sector as a member of the Asia ex-Japan Global Market Research team. Bloomberg, and Business Standard. As an economist, she has worked with the Indian government in order to design India's industrial production index. Varma became the Managing Director and India Chief Economist for Nomura Holdings. In mid-2019, Varma expanded her work as the India and Asia ex-Japan Chief Economist in Nomura Holdings.

Awards The Asset magazine ranked Varma as #1 for Research in India in 2012 to 2015. in which they predicted different reforms that would allow India to grow economically. This report was written with Lehman Brothers, when Varma was still part of the company.

In February 2010, Varma was a contributing author for a report called The Ascent of Asia, in which different policies were predicted to increase Asia's gross domestic product. This report was written for Nomura Holdings.

In October 2012, Varma was part-author of a report for Nomura Holdings called Introducing NESII - The Nomura Economic Surprise Index for India. This report describes a new indicator for calculating any surprises and momentum in India's economic data.