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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Nokian Tyres is putting the question of North America’s roughest roads directly to drivers, launching a voting campaign that runs from 30 March to 10 April 2026. The initiative invites the public to cast votes for the state or province they believe has the most challenging surfaces, with the conversation playing out across the tyremaker’s social media channels on Instagram, Facebook and TikTok under the handle @NokianTyresNA.

This bracket-style competition brings back champions and notable contenders from previous years, with the semifinal matchups now set. Quebec faces off against Massachusetts, while Colorado takes on Oregon. For those living outside these regions, the company encourages participation through a write-in option on its dedicated contest website, where drivers can also make their case for why their local roads deserve the title.

Central to the campaign is Nokian Tyres’ use of aramid fibres, the lightweight yet incredibly strong material found in aerospace and defence applications. By weaving these fibres into the sidewalls and sometimes the tread, the company strengthens its tyres against punctures and blowouts. This technology features prominently in the new Hakkapeliitta 01, a studded winter tyre debuting this fall, and qualifies the tyres for the brand’s Pothole Protection warranty, which offers a free replacement if a tyre is damaged beyond repair by a road hazard.

The campaign will be amplified through social media content, testimonials from North American brand ambassadors and messaging from business partners. Drivers following @NokianTyresNA can vote directly on posts and stories, while those entering the tyre giveaway or submitting their regional nomination can do so on the contest website. The company, renowned for inventing the winter tyre, continues to serve the North American market with its full range of all-season, all-weather and winter products.

Hans Dyhrman, Director of Marketing, Nokian Tyres North America, said, “Our tyres come with a Pothole Protection warranty because we understand the unique challenges of North American roads. While the ‘Worst Roads’ contest offers a chance to complain about potholes and rough surfaces, it’s also an opportunity for consumers to learn about the ways Nokian Tyres helps keep them safe thanks to our aramid-reinforced products.”

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Tyrecycle has announced the upcoming implementation of a pioneering conveyor belt system at its East Rockingham facility in Western Australia, marking a significant step forward in sustainable industrial practices. This particular product, the Infinity Series, was developed by Fenner Conveyors and holds the distinction of being the first conveyor belt manufactured in Australia using locally sourced recycled materials. The material used in its production was supplied through an established strategic partnership between the two companies, underscoring a collaborative foundation that prioritises resource efficiency and domestic manufacturing.

By integrating this locally manufactured belt into its own operations, Tyrecycle is transforming its facility into a living demonstration of the shared environmental vision it holds with Fenner Conveyors. The deployment at East Rockingham serves a dual purpose: it not only upholds the rigorous performance standards required for such critical infrastructure but also actively nurtures a novel closed loop ecosystem. This system represents a first of its kind approach where industrial components are deliberately reclaimed and repurposed, reinforcing the viability of circular economy principles within heavy industries like mining.

Together, the two organisations are effectively closing the loop by converting end-of-life conveyor belts into robust new products that maintain high durability standards. This collaborative effort directly supports mining operations seeking to advance their decarbonisation strategies and circularity targets. Their work illustrates how a combined focus on innovation and corporate responsibility can yield tangible solutions, proving that industrial advancement and environmental stewardship can indeed move forward on a parallel and mutually reinforcing path.

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CEAT Kelani Holdings emerged as a standout performer at the 2026 Best Management Practices Company Awards of the Institute of Chartered Professional Managers of Sri Lanka (CPM Sri Lanka), securing the overall Gold award for Best Management Practices. This top honour, which recognised the company as the nation’s best-managed enterprise, was complemented by four additional distinctions. Among these were the Sector Award as the winner in the Manufacturing category for Tyre and Rubber, a place among the 40 Outstanding Companies and a Best Management Practices Excellence Award, underscoring the breadth of the organisation’s operational excellence.

The company’s leadership also received significant acclaim, with Managing Director and Chief Executive Officer Ravi Dadlani being presented with the Leadership Excellence award. This particular recognition highlighted the effectiveness of the strategic direction at the helm of the organisation. The CPM awards themselves serve to evaluate public and private sector entities based on comprehensive management criteria, including leadership effectiveness, people management, resource utilisation and overall performance during the review period.

Central to CEAT Kelani’s achievements this year is its Quality-Based Management philosophy, which prioritises customer satisfaction by aligning quality controls and workforce efforts with strategic business goals. A notable initiative presented during the awards process was the overhaul of the customer claim settlement process, which now facilitates inspections within a single day. This improvement was driven by a structured Quality Improvement Project involving cross-functional teams from Technical Services, Supply Chain and Distribution, supported by digital integration and process enhancements.

The revamped claim settlement system has not only bolstered customer confidence and dealer trust but has also contributed to volume growth, particularly in the Truck and Light Truck segments. Dadlani emphasised that the QBM approach has been instrumental in steering the company towards greater customer centricity while maintaining strong financial results, with continuous improvement through digital transformation and employee engagement remaining central to the corporate strategy. This consistent recognition by CPM reflects the sustained depth and continuity of the company’s management practices over time.

Commenting on the awards, Dadlani said, “To be named the best-managed company in Sri Lanka is an extraordinary honour as well as a reward for years of hard work in times of challenge. This recognition reflects the company’s sustained focus on embedding best-in-class management practices across its operations with the involvement of employees at every level.”

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Zeon has confirmed its role as an official sponsor of RubberCon 2026, scheduled for 28 and 29 April in Paris. The conference is organised by AFICEP under the aegis of IRCO. The event will centre on the theme ‘Ecodesign and Rubber Innovation’, serving as a gathering for global experts spanning academia, research, manufacturing and technology sectors. This focus reflects the industry’s growing emphasis on sustainable material development and circular economy principles.

Through its sponsorship, the company underscores its commitment to sustainable solutions, innovation and international knowledge exchange. Zeon anticipates engaging with industry professionals to explore new approaches and contribute to meaningful sector progress.

“By sponsoring RubberCon 2026, we reaffirm our commitment to driving forward sustainable solutions, fostering innovation and supporting the international exchange of knowledge and best practices. We look forward to engaging with industry professionals, discovering new approaches and contributing to meaningful progress within our sector,” read the company statement.

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