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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HS HYOSUNG ADVANCED MATERIALS has been honoured as a Community Contribution Certified Company for the seventh consecutive year. The recognition was conferred at the 2025 Community Contribution Recognition Day event in Seoul, where the company also received a Minister of Health and Welfare’s Commendation and the highest possible ‘S’ grade. This dual accolade underscores the sustained public value and consistent performance of its social responsibility programmes.

The certification itself is a rigorous evaluation administered by the Ministry of Health and Welfare and the Korea National Council on Social Welfare. It involves a comprehensive review based on ESG Principles, spanning multiple evaluation areas and numerous detailed indicators. In the latest assessment, the company excelled particularly in environmental management, earning recognition for its robust sustainability and carbon-neutral practices. Its diverse community initiatives, which are developed through long-term regional partnerships and extensive employee volunteerism, were also highly commended for building a stable and effective collaborative framework with local communities.

This ongoing commitment has been strategically reinforced following the establishment of the HS Hyosung Group in 2024. Under the new slogan ‘Value, Together’, the company has redefined its approach to social contribution. Its efforts are now organised around three core pillars: providing support for vulnerable groups, fostering the advancement of local communities and culture and promoting eco-friendly initiatives.

H S CHO, Vice Chairman, HS HYOSUNG, said, “Receiving the Minister of Health and Welfare’s Commendation and the highest ‘S’ grade is the result of our longstanding commitment to putting ‘Value, Together’ into action within our communities. We will continue to carry out diverse social contribution initiatives as a responsible company that grows together with local communities.”

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Toyo Tires has become a member of the Global Data Service Organisation for Tyres and Automotive Components (GDSO). This international non-profit is dedicated to creating universal data standards for tyres and auto components. Through this collaboration, Toyo Tires will intensify its efforts to establish industry-wide systems for tyre identification and traceability, which are crucial for modern supply chains.

A core component of this initiative involves the use of radio frequency identification (RFID) technology. This wireless system allows for non-contact identification of individual tyres, which significantly improves the accuracy and efficiency of quality assurance and inventory management processes. By building a comprehensive database of its products, Toyo Tires will enhance information reliability across the entire industry.

The data accumulated through RFID will be instrumental in developing high-value-added services, particularly within the company’s solution business such as retreading and maintenance programmes. This strengthens information management throughout a tyre's entire life cycle. Furthermore, this technological adoption supports Toyo Tires' broader commitment to sustainability. By proactively leveraging digital tools like RFID, the company aims to reduce its environmental impact while simultaneously enhancing its corporate value and advancing the development of more sustainable tyres.

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Hankook Tire, the exclusive rally-tyre supplier for the FIA World Rally Championship, is all set to provide tyres for all competitors in the championship's dramatic 2025 season finale, Rally Saudi Arabia. Taking place from 25 to 29 November in the Jeddah region, this decisive event marks the WRC's inaugural visit to the country. The rally’s route, centred around the Jeddah Corniche Circuit, comprises approximately 319 kilometres of competitive action across 17 special stages, presenting a completely new challenge for teams and drivers.

This new Middle Eastern challenge demands a tyre capable of mastering a vast spectrum of conditions. The stages combine long, fast desert sections with technically demanding rocky terrain, all subject to sharp temperature swings, blowing sand and unpredictable micro-climates. Hankook will equip the crews with its Dynapro R213, an extreme all-terrain rally tyre engineered specifically for such rough and unpaved surfaces. Available in Hard and Soft compounds, it features a robust casing and a specialised tread pattern to deliver stable grip, crisp steering response and reliable impact absorption at high speeds, all while managing heat buildup for consistent long-stage performance.

The rally also serves as the setting for the championship's climax. The Drivers' Championship will be settled in Jeddah, with Toyota GAZOO Racing's Sébastien Ogier having narrowed the gap to leader Elfyn Evans to just three points after his recent victory in Japan. This sets the stage for a final, high-stakes showdown where tyre strategy and durability will be as critical as outright speed, focusing the global motorsport world on the Saudi desert.

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Giti Tire has intensified its AdvanZtech EV Ready initiative with the introduction of the GitiWinterW2, a winter tyre engineered to perform on battery-electric vehicles, hybrids and traditional internal combustion engines. This new product, available for the 2025/26 winter season, is the first winter-specific offering within this specialised tyre line. The range is comprehensive, encompassing 17 different sizes to fit rims from 15 to 20 inches, making it suitable for a wide array of vehicles from the compact Fiat 500e to the Tesla Model 3 and popular SUVs like the Volkswagen Tiguan and Volvo XC60 PHEV. Each tyre is marked with a distinct sidewall logo to guide consumers towards the correct application for their vehicle type.

The development of the GitiWinterW2 focused on achieving a balance of critical performance attributes. Engineers prioritised managing the high torque output of electric vehicles for superior control while simultaneously minimising rolling resistance to help extend driving range. This technical development was accomplished without sacrificing the essential safety and handling characteristics required for winter driving in snow and wet conditions. The manufacturer emphasises that the final product delivers a quiet, comfortable and secure driving experience.

This winter tyre joins the existing summer patterns, the GitiSportS2 and GitiSynergyH2, which were originally launched in August 2024 under the same AdvanZtech EV Ready strategy. All three tyre lines are the result of research and development conducted through Giti's global AdvanZtech system, with significant work carried out at their European Research & Development Centre located in Hannover, Germany.

Fabio Pecci-Boriani, Deputy General Manager – Product Planning PCR and LTR, Giti Tire R&D Centre (Europe), said, “The Giti brand was among the first in the mid-market to introduce an EV ready concept, ensuring maximum flexibility and product clarity for dealers and peace of mind for drivers. As is proven, winter can have an impact on the performance of part-electric and electric vehicles with lower temperatures reducing battery range and immediate torque levels being tricky on slippery roads; the Giti AdvanZtech EV ready GitiWinterW2 goes a long way to addressing these issues.”

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