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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Hankook Tire, the exclusive tyre supplier for the FIA World Rally Championship, has concluded the fifth round of the 2026 season, Rally Islas Canarias, which took place from 23 to 26 April in Spain’s Canary Islands. For the demanding asphalt stages, Hankook provided its specialised Ventus Z215 and Ventus Z210 tarmac rally tyres, engineered to handle extreme conditions.

The event, first held in 1977, marked its 50th anniversary this year and its second edition as an official WRC round. Competitors tackled 18 special stages across Gran Canaria Island, centred around Las Palmas, covering approximately 322.61 kilometres. The course featured rough, high-abrasion volcanic asphalt with dramatic elevation changes, while dense fog and local rain above 1,000 metres made weather a decisive factor. The opening day’s Super Special Stage at the BP Ultimate Circuito Islas Canarias offered side-by-side racing, where small pace differences quickly altered positions.

Hankook’s tyres provided reliable grip and control at high speeds and through continuous cornering, helping drivers maintain stability on the technical routes. Sébastien Ogier of TOYOTA GAZOO Racing secured his first win of the season, leading a team podium sweep. In the Drivers’ Championship, Elfyn Evans leads with 101 points, followed closely by Takamoto Katsuta on 99.

The 2026 WRC season now moves to Round 6, Vodafone Rally de Portugal, from 7 to 10 May in northern Portugal, a demanding event mostly on unpaved surfaces. Hankook will operate a ‘Brand World’ booth in the service park there, using motorsport content and hands-on experiences to promote its premium image. As exclusive WRC tyre supplier since 2025, Hankook continues integrating data from over 70 global championships into R&D, advancing high-performance tyre technology and the Ventus brand’s global leadership.

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wdk, the German Rubber Industry Association, and the ADK, the German Rubber Industry Employers’ Association, hosted their annual Rubber Industry Day in Berlin on 28 April 2026. The event saw wdk President Michael Klein issue an urgent call for industrial policy measures, warning that pressure on Germany’s manufacturing base remains relentless. He argued that the country can no longer afford strategic delays, insisting that declarations of intent must be replaced by immediate action to reduce bureaucracy and energy costs for businesses.

Citing fresh member survey data, Klein reported that sales, revenue and production levels in Germany’s rubber industry are predominantly declining compared to the previous year. He described this downturn as a clear warning signal, noting that companies have exhausted their potential at domestic sites. Without political support, he added, only foreign markets remain viable alternatives, while Germany continues to lose industrial substance.

The wdk president stressed that the federal government’s failure to implement countermeasures risks permanent damage to the nation’s industrial base. He expressed bafflement that political decision-makers have long known what needs to be done yet have failed to act for an extended period. Klein concluded that proactive intervention is now essential, as the erosion of Germany as a production location must finally be stopped to preserve the manufacturing sector as the backbone of the economy and a guarantor of prosperity.

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Bridgestone Americas has concluded the first phase of a joint research initiative with Penske Transportation Solutions, known as the Decarbonisation Lab, which focused on identifying commercially ready methods for reducing carbon emissions in real-world commercial fleet operations. The partnership confirmed that both companies intend to continue their collaboration with a second phase of testing in 2026, building on the operational data gathered during the initial stage.

Working alongside Dynamon, a specialist in advanced data analytics, the Lab’s first phase involved logging more than 500,000 fleet miles to assess three specific operational areas. The use of low-rolling-resistance retreads, continuous tyre pressure monitoring and Bridgestone casings on Penske vehicles produced a measurable gain of 6.35 percent in fuel economy. In a separate track, the partners tested renewable diesel in Tennessee, a state outside the usual Low Carbon Fuel Standard markets, to study long-term maintenance needs and efficiency results.

A third work stream saw Penske and Bridgestone engineering teams jointly redesign aspects of Bridgestone’s automotive tyre retail distribution network, with the goal of cutting roughly 152,000 miles from that logistics system. Scaling that approach across the entire dedicated fleet operated by the two companies would correspond to a four to six percent drop in CO₂ emissions, according to the project’s projections.

The overall findings from the Decarbonisation Lab reinforce the idea that meaningful near-term sustainability gains require a combination of proven technologies, rigorous data collection and close industry cooperation rather than isolated efforts. Representatives from both organisations are scheduled to present the first-phase results at ACT Expo 2026 in Las Vegas on the afternoon of 4 May.

Erik Seidel, head of sustainability for Bridgestone in the Americas, Europe, Middle East and Africa, said, “Our Bridgestone team is proud to have partnered with Penske for more than a decade, from IndyCar racing to deploying millions of retreaded tyres across the Penske fleet. The Decarbonisation Lab is a testament to how sustainable transformation can be accelerated when we work together.”

Bill Combs, Senior Vice President, Partnership & Sustainability Strategy, Penske, said, “We are honoured to collaborate with Bridgestone to bring the Decarbonisation Lab to the marketplace. Our companies have enjoyed a successful history of uncovering great solutions that benefit our customers and the industry.”

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Maxion Wheels will showcase a low‑carbon commercial vehicle steel wheel at IFAT Munich as part of the Daimler Truck–led reECONIC concept vehicle. The component demonstrates how circular material strategies and advanced engineering can significantly cut carbon footprints at the individual part level.

For the reECONIC project, Maxion Wheels developed a 22.5-inch x 9.00-inch steel wheel that achieves a CO2 footprint reduction of more than 50 percent compared with conventionally manufactured counterparts. The wheel weighs 32.5 kilogrammes and was produced using electric arc furnace steel with a high proportion of post‑consumer recycled scrap.

The wheel’s cradle‑to‑gate CO2 footprint fell from 132.7 kilogrammes to 61.4 kilogrammes per wheel through a combination of CO2‑reduced steel, optimised design and responsible material selection, all without compromising functionality, performance or safety. Given that steel wheels are safety‑critical and among the heaviest parts of a commercial vehicle, their mass and material composition make them a key lever for emissions reduction and overall vehicle efficiency.

Maxion applied its proprietary Lightweighting Process, which integrates performance, safety and production parameters into advanced structural design and simulation tools. This enabled a 2-kg weight saving compared with previous designs, lowering material demand and further reducing the carbon footprint. However, the majority of the emissions reduction came from material circularity, since raw materials account for roughly 75 to 85 percent of a steel wheel’s CO2 footprint.

Using high‑share post‑consumer recycled scrap via the electric arc furnace route lowers primary raw material demand, reduces iron ore mining and cuts energy‑intensive processing steps. The wheel was engineered at Maxion’s Global Engineering Center and plant in Königswinter, Germany, using industrially proven processes suitable for future scale‑up. Daimler Truck intends the reECONIC project as a pathway to series production, with real‑world testing starting in the second half of 2026.

The reECONIC vehicle will be unveiled at IFAT Munich from 4–7 May 2026, where it will be displayed and demonstrated as part of Daimler Truck’s circular‑economy initiative. The project confirms that circular design and recycled materials can be applied to high‑volume, heavily loaded parts, offering tangible CO2 savings within existing manufacturing frameworks.

Karl Rode, Director of Engineering at Maxion Wheels, said, “The reECONIC project allowed us to apply our engineering and material expertise to a clearly defined circular‑economy objective. By combining recycled‑material‑rich steel with targeted design optimisation, we were able to more than halve the CO2 footprint of a safety‑critical steel wheel using industrially feasible processes.”

Stan Mommers, Vice President Sales EMEA at Maxion Wheels, said, “Working with Daimler Truck on reECONIC shows how suppliers and OEMs can jointly translate circular‑economy principles into measurable results. Component‑level innovations like this steel wheel are essential for enabling lower‑carbon commercial vehicles in the future.”

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