One year down the line, the economy certainly seems to have bounced back and how. Several economic indicators are pointing to a definitive recovery. A’V’ shaped recovery, as projected by the Government, seems to be on track. Union Budget provided not only the intent but necessary impetus as evident in enhanced 34.5% increase in the capital expenditure and several other measures. As a result, the optimism and self-assured attitude is more than palpable.

India’s exemplary performance in bouncing back from a pandemic-ravaged slump has also attracted world’s attention. FDI inflows in India went up by a robust 40% in April-Dec 2020 amounting to $68 billion. Sensex, the benchmark stock index has been hovering around a psychologically high 50000 mark.

GST collections rose 27% to hit a record high of nearly Rs 1.24 lakh crore in March this year. In fact, GST collections have stood above Rs 1 lakh crore mark at a stretch for the last six months while witnessing a steep increasing trend.

Purchasing managers’ index (PMI) in manufacturing and services, e-way bills, rail freight – are all indicating increase in consumption and, in turn, economic revival.

The Organisation for Economic Cooperation and Development (OECD) has projected that Indian economy is poised to revive and retake its place as the fastest growing one in 2021 with a projected growth of 12.6% during FY 21-22.

OECD is not alone. Moody’s has revised India’s growth to 12% in 2021 as compared to its November 2020 estimate of 9% growth. Near-term prospects for Asia’s third largest economy have turned more favourable, it has stated.

Similarly, The International Monetary Fund (IMF) in its World Economic Outlook has projected a robust 11.5% growth for India in 2021 making the country the only major economy in the world to register double-digit growth this year.

Another piece of news that has brought cheer to all those interested in economic development of India is the fact that the pace of construction of highways in the country touched a record 37 km per day in the just concluded FY 2020-21. That this feat was achieved against the backdrop of the pandemic makes it all the more remarkable. According to Hon’ble Union Minister of Road Transport and Highways Nitin Gadkari, the achievement is unprecedented and has no parallel in any other country in the world.

With this accomplishment, the length of national highways has gone up by 50% to 137625 km over the past seven years. Total budgetary outlay has increased 5.5 times to Rs 1.83 trillion during this period.

Tyre Industry as “wheels of economy” has long been a bellwether for economic performance. Tyre Industry’s performance too, therefore, points to economic revival.

Both Truck & Bus (T&B) tyres and Passenger Car tyres’ production has been steadily moving up over the last few months. Ever since September’20, the domestic production of T&B and Passenger Car tyres has remained higher than corresponding months in the previous year. In the month of December’20, the T&B tyre production stood at a record high of nearly 20 lakh units. While it shows the economic recovery, at the same time it underscores Indian Tyre Industry’s preparedness and capabilities to be ahead of the demand curve as and when demand peaks in view of the infrastructure development.

The rise in Covid cases again, especially in an economically important state such as Maharashtra, has queered the pitch for continued economic growth. However, given the resilience of Indian economy and the enterprising zeal of our entrepreneurs, India will ride through this challenge as well.

Here is wishing that FY 2021-22 lives up to the high expectations and aspirations of a billion plus dreams. (TT)

Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.

Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

“ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”