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{{short description|Indian economist}}
{{Orphan|date=January 2021}}

{{Use dmy dates|date=December 2019}}
{{Infobox person
| name = Sonal Varma
| nationality = Indian
| alma_mater = {{plainlist|
*[[Delhi School of Economics]] (M.Ec. 2003)
*[[Lady Shri Ram College]] (B.Ec. 2001)
}}
}}

'''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]].<ref name=":0">{{Cite web|url=https://www.nomuraforum.com/copy-of-speaker-robert-subbaraman-i|title=Speaker-Sonal Varma-in|website=Nomura Forum|language=en|access-date=2019-11-27}}</ref> She is based in Nomura Holdings' [[Singapore]] sector as a member of the Asia ex-Japan Global Market Research team.<ref name=":0" /> Varma specializes in the analysis of trends in the Indian economy, and is considered to be one of India's top 3 economists.<ref name=":0" /> She is also considered the top female forecaster for quarterly [[Gross domestic product|gross domestic product (GDP)]] in India, and her forecasts are often published in media, such as her articles in ''[[The Economic Times]]'',<ref>{{Cite web|url=https://economictimes.indiatimes.com/topic/Sonal-Varma|title=Sonal Varma: Latest News & Videos, Photos about Sonal Varma {{!}} The Economic Times|website=The Economic Times|access-date=2019-11-27}}</ref> [[BloombergQuint|Bloomberg]],<ref>{{Cite web|url=https://www.bloombergquint.com/economy-finance/indias-trend-rate-of-growth-is-faltering-cautions-nomuras-sonal-varma|title=India's Trend Rate Of Growth Is Faltering, Cautions Nomura's Sonal Varma|website=BloombergQuint|language=en|access-date=2019-11-27}}</ref> and ''[[Business Standard]]''.<ref>{{Cite news|url=https://www.business-standard.com/multimedia/video-gallery/analysis/sonal-varma-economist-nomura-2217.htm|title=Sonal Varma, Economist, Nomura|work=Business Standard India|access-date=2019-11-27}}</ref> As an economist, she has worked with the Indian government in order to design India's industrial production index.<ref name=":0" />

== Education ==
Sonal Varma attended Lady Shri Ram College, a division of the University of Delhi, in 1998 and graduated with a Bachelor of Economics in 2001.<ref name=":0" /> Later in 2001, she attended the Delhi School of Economics and graduated with a Masters of Economics in 2003.<ref name=":0" />

== Career ==
In 2003, Varma worked at [[CRISIL]] for 2 years as an economist until 2005.<ref name=":0" /> Late in 2005, Varma worked at [[ICICI Bank]] as an economist, until 2007 when she started work at [[Lehman Brothers]] as the India economist.<ref name=":0" /> When Nomura Holdings took over the Asian division of Lehman Brothers in 2008,<ref>{{Cite web|url=https://www.fnlondon.com/articles/lehman-brothers-barclays-nomura-tale-of-two-takeovers-20130911|title=Lehman Brothers: a tale of two takeovers|last=Partington|first=Richard|website=www.fnlondon.com|language=en-GB|access-date=2019-11-27}}</ref> Varma became the Managing Director and India Chief Economist for Nomura Holdings.<ref>{{Cite web|url=https://www.nomuraholdings.com/data/pdf/2017_ii_in.pdf|title=All-India Research Analyst Directoy|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref> 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.<ref name=":0" />

''Bloomberg'' named her as the #1 Forecaster for Indian Economic Data in 2012 and 2013.<ref name=":0" />

She was picked by the All-India Institutional Investor survey as one of the Top 3 economists in India for 2013, 2014, and 2015.<ref name=":0" />

== Notable works ==
In October 2007, Sonal Varma was a part-author of a report called ''India: Everything to Play for'',<ref>{{Cite web|url=http://www.llewellyn.co.nz/India.pdf|title=India: Everything to Play for|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref> 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'',<ref>{{Cite web|url=http://www.llewellyn.co.nz/Asia.pdf|title=The Ascent of Asia|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref> 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''.<ref>{{Cite web|url=https://content.indiainfoline.com/wc/news/pressrelease/Nomura_Economic_Surprise_Index_for_India.pdf|title=Introducing the NESII - The Nomura Economic Surprise Index for India|last=|first=|date=|website=|url-status=live|archive-url=|archive-date=|access-date=}}</ref> This report describes a new indicator for calculating any surprises and momentum in India's economic data.

== References ==
{{Reflist|}}

{{Authority control}}

{{DEFAULTSORT:Varma, Sonal}}
[[Category:21st-century Indian economists]]
[[Category:Delhi School of Economics alumni]]
[[Category:Indian women economists]]
[[Category:Lady Shri Ram College alumni]]
[[Category:Living people]]
[[Category:Place of birth missing (living people)]]
[[Category:Year of birth missing (living people)]]

Sonal Varma - Revision history

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