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The emergence of Omicron (B.1.1.529) variant of SARS‐CoV‐2 has resulted into a very massive surge in COVID‐19 cases worldwide. Due to continuous emergence of multiple variants of SARS‐CoV‐2, the ongoing pandemic has caused severe morbidity and mortality in last two years. The rate of infectivity of Omicron variant is much higher than Delta variant and in a very quick time Omicron has displaced the Delta variant and now become a dominant variant across the globe. The twin combination of Omicron and Delta variant is triggering a Tsunami wave of ever high surges in COVID‐19 cases worldwide. This article highlights the global threats and challenges posed by Omicron, and strategies to counter it with a particular focus on Indian sub‐continent. Highlights: Two strains (Omicron and Delta) may infect someone at the same time, although this is considered an extremely rare event.A simultaneous COVID‐19 and flu infection named "flurona" has been reported recently in Israel.Due to such a twin combination of variants, the world is again shivering with panic and this may lead to an aggravated COVID‐19 pandemic. [ABSTRACT FROM AUTHOR]