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)

Bekaert has flagged off its first fleet of LNG-powered trucks in India in collaboration with GreenLine, the country’s leading provider of sustainable heavy trucking solutions. The joint initiative is aimed at supporting India’s vision for a gas-based economy and reducing the carbon footprint of road logistics.

The foundation of the collaboration with GreenLine is a mutual dedication to operational innovation and ESG standards. Bekaert has the infrastructure required to trial this effort in Chennai and Halol, with plans to expand following a six-month learning period, thanks to GreenLine's LNG ecosystem, which is supported by real-time telemetry and a smooth refuelling network. It is anticipated that each LNG truck will save up to 24 tonnes of CO₂ a year, making a significant contribution to Bekaert's targets of 65 percent of sales coming from sustainable sources and carbon net zero by 2050.

Dinesh Mukhedkar, Procurement Operations Lead – South Asia and Procurement Global Shared Service Centre Lead, said, “As part of our purpose, ‘Establishing the new possible’, and our ambition to lead in safe, smart and sustainable solutions, decarbonising logistics is an essential step. Heavy-duty transport contributes nearly 90 percent of emissions in Indian logistics. Switching to LNG helps reduce CO₂ by up to 30 percent and particulate matter by up to 91 percent compared to diesel. GreenLine’s mission and integrated support made them the ideal partner. Together, we are shaping a cleaner, more sustainable future for logistics in India.”

Trelleborg Tires is all prepped up to debut the ART1000, its first agricultural rubber track for high-powered machinery, at the upcoming Agrishow 2025, the largest agribusiness trade show in Latin America. The company will also display its TM150 CFO tyre, which is developed for a new generation of sprayers, along with a wide selection of products designed for modern farming. The event is scheduled to be held from 28 April to 2 May in Ribeirão Preto (SP), Brazil.

Trelleborg Tires enters the agricultural rubber track market with the ART1000, a tyre designed for high-horsepower machines. In addition to optimizing vehicle economy and offering additional strength and long-lasting durability, the ART1000 is engineered for remarkable adaptability and mobility of agricultural machinery in all operating circumstances. Its track design incorporates cutting-edge tread bars that reduce soil compaction, encouraging nutrient absorption and robust root development. In demanding high-pull applications, the high self-cleaning capability maximizes overall performance and lowers operating costs by improving ride quality and increasing traction. Even in the most demanding agricultural settings, ART1000's exceptional wear and cut resistance is ensured by its cutting-edge engineering and sophisticated rubber compounds.

The TM150 CFO series, which comes in sizes VF380/90R46 and has both VF (Very High Flexion) and CFO (Cyclic Field Operations) technology, is also making its debut in Brazil. CFO allows for greater load capacity during cyclic operations at up to 30 kmph when installed on contemporary, powerful sprayers. Because of its unique internal construction, the TM150 can operate at lower pressures, increasing its ground footprint, reducing soil compaction, and improving traction.

At Booth #E8b, Trelleborg will also display a range of high-performance tyre solutions including PneuTrac, a hybrid between a radial agricultural tyre and a track designed for smooth navigation in vineyards and orchards, the multi-award-winning TM1000 ProgressiveTraction tyre and the company’s patented agricultural TW rim profile for contemporary tractors, combines and harvesters.

Marcelo Natalini, President at Yokohama TWS South America, said, “Trelleborg Tires brings innovation from the soil up, delivering high-performing tyre solutions to boost productivity and protect their land. At Agrishow 2025, agri professionals will have the chance to connect with our tyre experts on site and see these technologies live, from the new ART1000 rubber track to our most advanced tyre ranges, designed to handle the challenges of next-generation machinery and modern field operations.”

Goodyear Tyre & Rubber is conducting a strategic review of the farm tyre business at its Indian subsidiary, signalling potential changes as the US manufacturer evaluates its global operations.

The Indian unit disclosed in a regulatory filing that its board has acknowledged communication from its American parent regarding the review. Goodyear will be examining "all strategic, operational and financial opportunities" related to the agricultural tyre business, according to the statement filed under SEBI disclosure requirements.

The Ohio-based tyre maker has not indicated any specific plans or timeline for the review. The company cautioned that there is "no assurance that the strategic review will result in the implementation of any transaction."

This move is part of Goodyear's broader efforts to optimise its global portfolio amid challenging market conditions in the automotive sector.

As part of a strategic effort to increase its presence in the region's premium original equipment (OE) market, Kumho Tire has confirmed its plans to establish its first tyre production facility in Europe by 2027.

The company has shortlisted Poland, Serbia and Portugal as possible locations for the plant, which is projected to need an investment of more than KRW1 trillion (USD 705 million). The decision is closely linked to Kumho’s ambition to strengthen its partnerships with European automakers and was revealed by Kumho Tire CEO during the South Korean premiere of Kumho's new Ecsta Sport tyre line.

Kumho has recently secured OE supply contracts with major brands such as Mercedes-Benz, BMW and Volkswagen Group. At the moment, Kumho runs eight tyre production plants in China, Vietnam, South Korea and the US. Its capacity to compete in the premium OE market, however, has come to be perceived as being constrained by the absence of a European production base. Through the benefits of local production, the new facility will improve response to European client requests, save freight costs and shorten delivery times, all of which will strengthen the company's partnerships.