However, as is evident now, we were caught unawares. Mutated strain of the virus took India in its stride as we were yet to work out a robust vaccination strategy. To curb the spread and manage the health emergency getting out of control in view of paucity of beds, oxygen and ventilators, a large number of states-imposed lockdowns and other restrictions which continue till date. 

As is normal under such circumstances, the economy bears the brunt and that is what seems to have happened. The fragile economic recovery seen in the second half of FY21 seems to have gone derailed. Consumer confidence has hit a new low as shown in a recent survey. Different rating agencies and multilateral organizations have downwardly revised the growth projections for the current fiscal year. From a bullish 11-13% growth (in view of base effect), the projections are now for growths in single digits only.

Needless to say, the pitch for economic revival is queered.  But, curiously, as Covid infections come off from the peak levels and the recovery rates go up, a new kind of confidence is building up. The infection rates are coming down with as much alacrity as they had peaked.

Certainly, there is no room for any complacency as premonitions of a third wave have already been made. However, the vaccination strategy to inoculate a large number of Indians by the end of the year holds much hope. It has been observed that those countries that have already inoculated over 50% of their population have witnessed much less morbidity and mortality rates.

What also holds out hope are a range of high frequency indicators which show the resilience of the Indian economy and the entrepreneurship that shines through whenever an opportunity is provided. The economic growth in the fourth quarter of last fiscal has been better than expected. From a contraction of 24.4% and 7.4% in the first and second quarters, the economy turned around in the third one with 0.5% growth and ended the year with 1.6% growth in Q4.

There are a range of other indicators too. Industrial performance measured by IIP grew by 22.3 percent in March. Merchandise exports grew by 197 percent in April. The output of eight core infrastructure sectors grew by robust 7% in March. Manufacturing PMI has remained at a high of over 55 in March and April. GST revenue collection set a new record of Rs. 1.4 lakh crore in April.

If the tyre  production data for FY21, as released recently, is anything to go by, Tyre Industry will continue to put the wheels of economy in motion against all odds. No doubt, Tyre Industry's overall numbers are down in FY21. However when looked closely, there is ample evidence that points to the resilience  in the sector. Truck & Bus (T&B) tyre production, the bellwether of economy has turned in better performance in FY21 over FY20. And this despite the fact that April’20 was a washout in view of nationwide lockdown. Both T&B and Passenger Car tyre production touched significantly higher figures in March this year with T&B tyre production crossing 20 lakh numbers, a historic high.

FY21 will also go down as a landmark year when Radial Truck & Bus tyre production equalled that of Bias tyre production. Tyre exports from India have charted an upward trajectory in the second half of previous fiscal as the stability was achieved in the exports markets.

Forecast of a normal monsoon (third in a row) and the upcoming festive season can provide much-needed impetus to the economy if vaccination drive accelerates and Covid appropriate measures are followed strictly.

No doubt, the situation is still in a flux, and it is too nascent to gauge the true impact of the second wave on economic growth.  But ramping up the vaccination drive and inoculating the entire adult population as early as possible will help.

And there is a major shift again in the vaccination policy. As this column gets on the editor’s desk, the federal government has decided to provide free coronavirus vaccines to states for inoculation of all above the age of 18.

FY 21 could not live up to the expectations that most Indians had. Hope the next year will. (TT)

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Kuraray America, Inc. (KAI) demonstrated its community commitment through volunteer service and financial support at the 77th annual Pasadena Livestock Show & Rodeo. The Kuraray Foundation of America (KFA), a 501(c)(3) nonprofit corporation, contributed USD 5,000 to the event, funding local youth programmes.

Over the rodeo's nine-day run, eleven KAI employees dedicated more than 350 volunteer hours to health, safety and security operations. Leveraging their professional expertise, these volunteers identified and mitigated onsite risks, staffed the medical tent and worked behind the scenes to ensure a safe, well-organised experience for all attendees.

Beyond safety duties, KAI volunteers supported interactive educational exhibits highlighting the connections between industry, agriculture, and sustainability. These displays allowed families to explore the farm-to-table journey and understand how various industries contribute along the way. The rodeo's fundraising efforts extend far beyond the event itself, supporting college scholarships, livestock show awards, calf scramble programmes and other agricultural education opportunities for local students.

For KFA, the sponsorship represented more than financial backing – it was a chance to invest time, expertise and resources in an organisation dedicated to the Pasadena community throughout the year. KAI expressed gratitude to the rodeo for welcoming its team and recognised volunteers David Solo, Calvin Balch, Alex Berry, Dwight Brunner, Matt Callas, Eric McDaniel, Miguel Pompa, Zachary Reynolds, Chase Stewart, Richard Bass and Tyler Free for their service, reflecting the company's dedication to being an active partner in the communities where its employees live and work.

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Yokohama India has introduced a locally manufactured variant of its GEOLANDAR A/T tyre featuring Outline White Letter sidewall styling for sports utility vehicles (SUVs). The 15-inch tyres are produced at the company's manufacturing plant in Visakhapatnam, Andhra Pradesh, following a transition from importing the product line.

The GEOLANDAR A/T tyre in 15-inch size is designed for fitment on utility models including the Maruti Suzuki Jimny and Mahindra Bolero. The white-lettering option is currently available in two sizes, with Yokohama India planning to expand local production to include 16-inch to 18-inch tyre sizes in 2027.

Gaurav Mahajan, Head of Marketing and OE Sales, Yokohama India, said, "For today’s SUV owner, driving is increasingly part of a broader motoring lifestyle, where the vehicle reflects a sense of individuality, adventure and personal expression. The GEOLANDAR A/T is designed to complement that mindset, bringing a more distinctive and rugged character to the vehicle. It is for enthusiasts who see their SUV as more than a means of getting from one place to another, and want every element of it to reflect their passion for the road and the lifestyle that comes with it."

The introduction forms part of Yokohama's strategy to expand domestic manufacturing capabilities in India and cater to local demand for utility vehicle accessories and components.

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Citira, a Sweden-based company specialising in circular tyre management, has acquired Redpath Tyres Ltd, marking its first entry into the UK commercial and agricultural tyre segment and laying the foundation for a national UK footprint. The deal follows Citira’s earlier UK market entry this year through Tyrefix Group, combining Redpath’s local knowledge and strong reputation with Citira’s circular tyre management model, which covers retreading, rim refurbishment and fleet logistics and is already established in the Nordics and Poland. This acquisition represents a significant strategic step for Citira as it seeks to expand its presence across the United Kingdom.

Redpath Tyres, which has served Scottish customers for 52 years, operates from 11 locations and employs around 90 people. It will retain its own name and team, with Graham, Neil and Catriona continuing in the business and becoming shareholders in the Citira Group. The company’s longstanding local expertise and established customer relationships are expected to support Citira’s broader growth ambitions in the region.

Oliver Johnson, Head of UK, Citira, said, "Redpath Tyres has earned a strong reputation across Scotland through its reliability, service quality and close relationships with the fleets and farming community it supports. That reputation provides an excellent foundation for the next stage of growth. Following our entry into the UK earlier this year, this acquisition represents a deliberate first step into the Commercial (TBR) market and the beginning of our ambition to build a national network.”

Graham Redpath, speaking on behalf of the Redpath family, said, "We as a family have spent 52 years building this business and wanted to find a long-term stewardship that would continue to look after our people and customers. Citira’s plans for the business, and their track record with businesses like Tyrefix, gave me the confidence that this is the right home for the team and everything we’ve built. I’m glad our family gets to stay involved and invested as shareholders in Citira as the business grows as part of a bigger group.”

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Pirelli is preparing for the FIM Grand Prix World Championship's next round at the Pertamina Mandalika International Circuit in Lombok, Indonesia, for the Grand Prix of Indonesia. The circuit's aggressively textured surface delivers strong mechanical grip, but track temperatures exceeding 60°C can render it slippery, placing tyres under severe thermal stress. These conditions make Mandalika an ideal proving ground for new solutions.

For Moto2, Pirelli will offer two soft-compound rear tyres: the standard SC0, used by nearly the entire field in 2025 as development specification E0125, and the new F0515. The latter shares the SC0's compound but pairs it with a newly developed structure for greater stability and more consistent performance. To aid evaluation, each rider's maximum rear tyre allocation rises from eight to nine.

Front options for Moto2 comprise the standard soft SC1 and medium SC2. Over the past two seasons, every rider has selected the soft tyre for the race, as it provides superior grip in high temperatures. In the entry-level class, the soft SC1 and medium SC2 are available for both front and rear, with both solutions proving competitive throughout the season. Last year's Mandalika results reinforced this: Honda's Adrian Fernandez claimed pole on SC1s front and rear, while KTM's José Antonio Rueda won both the race and the title on SC2s.

Giorgio Barbier, Pirelli Motorcycle Racing Director, said, “As at several rounds this year, also in Indonesia we will continue our Moto2 development work. After focusing on front tyre specifications at the most recent Grands Prix, we will introduce a new soft rear solution at Mandalika. With its highly macro-rough asphalt and temperatures that can exceed 60°C, the circuit places the tyres under severe thermal stress, making it a particularly valuable proving ground for testing new solutions.

“The F0515 development specification, which will make its debut this weekend, uses the same compound as the standard SC0 but pairs it with a newly developed structure designed to deliver greater stability and more consistent performance. Completing the rear allocation will be the standard SC0, successfully used by almost the entire field in 2025, when it was introduced as development specification E0125. Having both solutions available will allow a direct comparison over the course of the weekend and enable us to gather valuable data to support the next stages of development.”

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