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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Sri Trang Agro-Industry Public Company Limited (STA) has been honoured with the ‘Highest Revenue Business – Southern Region’ award at the Prachachat Business Awards 2026. The recognition, presented during a ceremony at Paragon Hall in Bangkok on 28 May 2026, is based on performance metrics and tax contributions evaluated by Prachachat Business News, the Department of Business Development and Creden Asia Company.

This accolade underscores STA’s pivotal role in advancing Thailand’s natural rubber sector and its dedication to sustainable, stable growth. The company continues to enhance competitiveness and operational efficiency while generating value for stakeholders, including farmers, partners, employees and investors. Amid global industry shifts, STA is committed to raising domestic rubber standards and strengthening its international market position.

The organisation prioritises responsible supply chain management, transparency and strong corporate governance. By integrating digital platforms and artificial intelligence, STA is modernising data connectivity across its operations, facilitating the industry’s transformation into the digital age and ensuring long-term resilience.

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Doublestar Tire showcased its European-market product portfolio at The Tire Cologne 2026, held in Germany from 9 to 11 June. The international exposition drew specialists from more than 100 countries and served as a venue for presenting sector-wide progress in sustainable manufacturing, intelligent production systems, and advanced material science. For Chinese tyre makers, the fair represents a strategic avenue into the European arena, and the company used this opportunity to reinforce its commercial momentum within the region.

Visitor interest at the manufacturer's stand remained high throughout the event, with many industry peers examining the aesthetic qualities and technical specifications of the displayed items. Product offerings fell into two principal categories, heavy-duty solutions and light-vehicle tyres, each engineered to satisfy distinct operational demands prevalent across European roads.

Among the commercial range, the DLD816 all-weather tyre emerged as a notable entry for extended haulage operations. Its construction incorporates cold-weather features and a reformulated rubber layer that extends operational lifespan, while closely spaced tread patterns furnish dependable grip under varied climatic circumstances. Stopping distance reductions on frozen surfaces received particular attention from logistics professionals.

The passenger side featured the DSU08 summer variant, which employs refined dynamic control architecture to harmonise acoustic comfort with responsive steering and durable construction. With a newly operational production facility in Cambodia complementing its European launch, the enterprise continues to cultivate its overseas standing through sustained client engagement and incremental market development.

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Continental is showcasing an expanded military tyre portfolio at Eurosatory 2026 in Paris, with exhibits on display in Hall 5B at Booth A197. The lineup addresses a broad spectrum of operational needs, ranging from lightweight off-road vehicles to heavy logistics trucks and tactical deployment units, with a focus on maintaining mobility across difficult terrain, extreme loads and high-speed conditions.

Trade visitors to the Continental stand can examine flagship products such as the SOT Traction for heavy tactical platforms, the HCS for medium tactical and logistics vehicles and the Grabber X3 for light off-road applications. Each tyre is engineered for dependable performance on soft ground and in rugged environments, while the company’s sales representatives remain on-site throughout the event for individualized consultations to match specific mission profiles with appropriate tyre solutions.

Tyres in this category are distinguished by specialised tread designs, reinforced load-bearing capacities and adjusted speed ratings, alongside rugged constructions that ensure reliability during off-road operations. Continental develops these products through close cooperation with global customers, including national armed forces and original equipment manufacturers, integrating real-world operational feedback into the design process.

The company is actively broadening its defence-oriented tyre range, with all models conforming to stringent international standards for durability, safety and performance under extreme conditions. Longstanding partnerships in the military sector inform continuous product refinement, incorporating direct input on performance requirements. Eurosatory, held biennially in Paris, serves as a premier global venue for defence and security technology, drawing manufacturers, suppliers, military leadership and international delegations.

Matthis Riekemann, Project Lead at Continental responsible for developing the company’s military tyre business, said, “Eurosatory provides the ideal platform to present our expanded tyre portfolio for military vehicles. With our extensive experience in the tyre industry, technological expertise and global presence, as well as our distribution and service network, we deliver advanced tyre solutions that are precisely tailored to our customers’ needs.”

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Michelin has expanded its retail network in Rajasthan by opening a new Michelin Tyres & Services outlet in Bikaner. The facility results from a partnership with Bhagwati Tyres and is situated on Jaipur Road near the Khatu Shyam Temple. This location is intended to improve regional access to the company’s premium tyre products and advanced automotive care.

The 7,000-square-foot establishment functions as a contemporary mobility hub with customer-focused infrastructure. Shoppers can find high-end tyres for passenger cars and two-wheelers, while on-site technicians provide wheel alignment, balancing and nitrogen inflation. The official opening ceremony featured Annu Mehla, the North and East B2C regional sales head, alongside representatives from Bhagwati Tyres.

Bhagwati Motors Nokha Private Limited has operated in Rajasthan since 2006 and possesses more than 20 years of local market experience. The firm has made substantial investments in spacious retail spaces to elevate the tyre buying experience. Through its collaboration with Michelin, the enterprise seeks to offer tyre solutions that emphasise safety, longevity and strong performance, thereby aiding the region’s automotive sector.

Shantanu Deshpande, Managing Director, Michelin India, said, “As mobility aspirations continue to evolve across India, we are seeing growing demand for premium products and high-quality automotive services beyond traditional metropolitan markets. Bikaner represents an important growth market for Michelin in Rajasthan, driven by increasing vehicle ownership and a rising appreciation for performance and safety. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers.”

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