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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The German Rubber Industry Association (wdk) has released its third-quarter member survey for 2026, indicating a slight easing of anxieties regarding raw material availability. Despite this modest improvement in sentiment, the sector continues to grapple with persistently high costs, with no significant financial respite on the horizon.

wdk Chief Economist Michael Berthel addressed the findings, noting that the acute fears of immediate supply bottlenecks have subsided among member companies. However, he underscored that the overall situation remains highly unpredictable, particularly given the ongoing geopolitical tensions near the Strait of Hormuz, which continue to threaten global trade routes.

While the supply of necessary materials is currently stable, the wdk raw material index for a standard natural rubber compound has surged to its highest point in roughly two years. Berthel pointed out that this disconnect between secure supply and unrelenting price levels leaves firms facing a dual challenge, especially in Germany, where elevated energy costs compound the financial strain of expensive inputs.

The association’s report also reveals a bifurcated business climate, with robust international operations contrasting sharply with weak domestic orders. Berthel characterised the overall recovery as fragile, stressing that without substantial government action to reduce energy levies and bureaucratic hurdles, a genuine upturn for the domestic industry remains elusive.

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Hankook Tire, the exclusive tyre supplier for the ABB FIA Formula E World Championship, is set to equip all teams for a historic first in Japan. The 2026 TDK Tokyo E-Prix will mark the series' debut night races, with Rounds 14 and 15 of Season 12 scheduled to start at 20:00 local time on 25 and 26 July.

Tokyo’s presence on the Formula E calendar began in 2024 with the city’s inaugural FIA World Championship race, and it returned as a double-header in 2025. The temporary 2.575-kilometre Ariake waterfront circuit, featuring 18 corners and a mix of straights, technical sections and high-speed combinations, will host the event. Demonstrating a commitment to sustainability, the entire race weekend, including the floodlighting, will be powered by advanced biofuels in partnership with the Tokyo Metropolitan Government.

The unprecedented evening timetable presents a strategic challenge for competing teams. With practice and qualifying occurring during the warmer afternoon, the races will unfold after sunset on a significantly cooler track. This shift demands that engineers not only collect effective data in daylight but also accurately predict tyre behaviour, grip and track temperature evolution as conditions cool towards race time.

Despite the evening start, Tokyo’s intense late-July heat and humidity are expected to persist, placing a premium on the Hankook iON Race tyre’s warm-up characteristics, stable grip and consistent performance. Throughout the weekend, Hankook will also host a booth in the Fan Village, allowing attendees to explore the company’s iON tyre technology and electric vehicle tyre lineup.

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Bridgestone Thailand has introduced the BRIDGESTONE POTENZA SPORT EVO, its newest premium sport tyre, during the IMPACT Speed Fest 2026 event. Positioned as a next-generation offering under the design philosophy of ultimate control and superior performance, the tyre was presented to media representatives for firsthand evaluation. Engineered to provide sharp responsiveness and precise handling, the product caters to drivers seeking sporty dynamics while also accommodating the growing electric vehicle segment under the EV Ready designation.

The tyre incorporates five core performance enhancements aimed at elevating driving confidence and efficiency. Braking capabilities have been significantly improved, with the tyre achieving the highest wet grip index across all available sizes, resulting in up to five percent shorter stopping distances on wet surfaces. Dry braking performance also benefits from an innovative curved tread block design that optimises contact pressure, reducing stopping distances by two percent. Handling stability is reinforced through a specialised groove layout and the integration of high-strength nylon and aramid fibre in the tread, ensuring firm grip across varying speeds.

Durability and energy efficiency have also been addressed, with material and structural upgrades extending tyre longevity by as much as 15 percent, equivalent to over 6,000 additional kilometres of use. Rolling resistance has been lowered by up to six percent, a feature particularly beneficial for electric vehicles. Bridgestone developed this tyre with a lightweight construction to support the performance expectations of EV drivers who continue to value acceleration and high-speed capability, aligning with the company’s broader sustainability objectives.

Available from 2026 in 71 sizes ranging from 18 to 22 inches, the POTENZA SPORT EVO is now accessible through authorised Bridgestone retailers and COCKPIT outlets nationwide, with online ordering options also provided. The launch reinforces Bridgestone’s commitment to blending sporty heritage with environmentally conscious engineering, offering a solution that meets the diverse needs of modern performance and electric vehicle owners.

Akihito Ishii, Managing Director, Bridgestone Sales (Thailand) Co., Ltd., said, “As a global leader in providing sustainable mobility and advanced solutions, Bridgestone is committed to continuous research and development to deliver innovative products that effectively meet the diverse needs of consumers. With this commitment, Bridgestone aims to redefine Thailand’s premium sport tyre segment through the launch of the new BRIDGESTONE POTENZA SPORT EVO. Developed under the concept of ‘Ultimate Control, Superior Performance’, this new tyre is engineered to excel in every aspect of driving performance, delivering an exhilarating driving experience while providing the safety and confidence drivers need on every journey.

“BRIDGESTONE POTENZA SPORT EVO is one of the innovations that Bridgestone is especially proud to introduce to consumers in Thailand, particularly those seeking premium, high-quality tyres. We are confident that this new tyre will not only meet the expectations of performance-oriented drivers but also expand our reach among EV owners who demand exceptional driving performance, precise handling, superior grip, and longer-lasting durability.”

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Kumho Tire USA has initiated the Georgia Veterans Tire Assistance Program, building upon its recent alliance with the Georgia Veterans Service Foundation. This new effort will distribute certificates for complete sets of four replacement tyres to 50 financially struggling veterans throughout the state, amounting to 200 tyres with a total value exceeding USD 50,000.

The programme acknowledges that dependable vehicles are critical for veterans to reach jobs, medical facilities and daily essentials. By covering the expense of new tyres, the initiative aims to ensure that recipients can travel safely and without the burden of unexpected automotive costs.

Administration of the programme falls to the GVSF, which will handle applicant selection and the distribution of certificates over the course of the year. Those not chosen in a given round may have their applications reconsidered in subsequent quarters, provided they continue to meet the established criteria.

Eligible applicants must be Georgia residents who are US military veterans, own or routinely use the vehicle in question and hold a valid licence, insurance and registration. Proof of financial hardship and tyres deemed unsafe due to wear, age or damage are also required, with a 24-month restriction on prior assistance. This marks the inaugural project under the Kumho-GVSF partnership, reflecting the tyre manufacturer’s broader dedication to enhancing community safety and mobility.

Edmund Cho, CEO, Kumho Tire USA, said, "When we announced our partnership with the Georgia Veterans Service Foundation, our goal was to identify meaningful ways to support Georgia's veterans and their families. The Georgia Veterans Tire Assistance Program puts that commitment into action by helping veterans maintain reliable transportation for work, appointments, family commitments and everyday needs."

Joe Higgins, Board Chair, Georgia Veterans Service Foundation, said, "The Georgia Veterans Service Foundation is grateful to Kumho Tire for this generous donation to help Georgia veterans continue travelling safely and stay connected to their communities. These tyre certificates will provide meaningful assistance to veterans by improving mobility, safety and access to essential resources."

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