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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Continental Tire is launching a philanthropic initiative with ROUSH Performance and automotive influencer Supercar Ron to deliver hope to children with critical illnesses. The collaborative effort centres on raising funds for Make-A-Wish, the global leader in granting transformative wishes for children facing serious health challenges. At the campaign’s core is the ‘Full Throttle for Wishes Giveaway’. This sweepstakes offers a grand prize of a fully equipped ROUSH-supercharged F-150 Nitemare, outfitted with Continental ExtremeContact DWS-06 Plus tyres, with all proceeds directly benefiting the charity.

Since 1980, Make-A-Wish has fulfilled over 615,000 wishes worldwide, providing hope and joy during immensely difficult times. The organisation believes a wish can serve as a pivotal moment, fostering resilience and optimism that positively impacts a child’s journey. With a child becoming eligible for a wish approximately every 25 seconds, the mission is urgent. By uniting high-performance automotive passion with philanthropy, this initiative aims to create life-changing experiences and deliver moments of joy to as many children as possible.

Brian Beierwaltes, Head of Marketing US PLT, Continental Tire, said, “Together, we have the power to create something extraordinary. By joining forces with ROUSH and Supercar Ron, we’re turning passion into action and making a huge difference for kids who need hope the most.”

Supercar Ron said, “Cars have always been my passion, but helping kids is my purpose. This initiative is about more than horsepower; it’s about giving these incredible kids the strength to keep fighting. I’m thrilled to team up with Continental and ROUSH to make this happen.”

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Apollo Tyres has achieved an A- rating from the Carbon Disclosure Project (CDP) in both Climate Change and Water Security for 2025. This recognition places the company among the foremost international leaders in transparency and tangible environmental action, as evaluated by this prominent disclosure platform. Apollo Tyres began its formal CDP reporting journey in 2020, demonstrating its dedication to accountability through alignment with major frameworks including the Taskforce on Climate-related Financial Disclosures (TCFD) and the Science Based Targets initiative (SBTi).

The company’s performance trajectory illustrates a consistent and marked improvement, rising from an initial Climate Change score of D in 2020 to achieving leadership status just five years later. This progression was bolstered in 2023 when Apollo Tyres expanded its disclosures to encompass water security, immediately securing a B- rating. The subsequent elevation to a dual A- rating underscores robust advancements in corporate governance, risk management, and comprehensive emissions reduction initiatives.

Central to this progress is Apollo Tyres’ commitment to achieving net zero emissions across its value chain by 2050. In support of this ambitious long-term vision, the company is developing a detailed decarbonisation roadmap and will shortly announce specific, absolute near-term emission targets. This systematic approach reinforces ongoing efforts to deepen stakeholder engagement and implement science-based environmental strategies, solidifying the company’s strengthened standing within the competitive global sustainability landscape.

Rajeev Kumar Sinha, Chief Manufacturing Officer, Apollo Tyres Ltd, said “Reaching an A- rating underscores our dedication to environmental stewardship and our progress towards a low-carbon, water-secure future. We remain committed to driving meaningful action and transparency across our operations.”

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Michelin is accelerating its retail expansion in North India through strategic new partnerships. The global tyre manufacturer has inaugurated two new Michelin Tyres & Services stores in Delhi NCR region. In Noida, Michelin has collaborated with Tyre Shoppe India, an established retailer with over 25 years of industry presence and a substantial facility renowned for its technical proficiency and customer service. A separate flagship outlet has also opened in Delhi’s Model Town in partnership with Liberty Tyres, a trusted automotive specialist operating for more than two decades.

These new stores provide customers with full access to Michelin’s premium tyre portfolio alongside comprehensive automotive care. Both facilities are equipped with advanced diagnostic tools, high-precision alignment and balancing equipment and offer a complete suite of vehicle services to ensure efficient and accurate maintenance. This expansion is part of Michelin’s focused strategy to strengthen its footprint across Northern India, enhancing convenience and reliable access for motorists.

Shantanu Deshpande, Managing Director, Michelin India, said, “Delhi–NCR plays an important role in Michelin’s growth strategy for India, with its strong base of premium and performance vehicle owners. The addition of these two new Michelin Tyres & Services Stores strengthens our retail presence in the region and brings us closer to our customers. As we prepare to introduce our Made-in-India passenger car tyre range next year, expanding our network remains central to ensuring accessibility and providing consumers with world-class mobility solutions.”

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Bridgestone Retail Operations, the service and retail arm of Bridgestone Americas, has named Zachary Borden as its 2025 Automotive Service Excellence (ASE) Master Technician of the Year, recognising his performance across technical skills, productivity and customer service.

Borden received the award at a ceremony hosted by the National Institute for Automotive Service Excellence, which oversees certification standards for vehicle repair and maintenance technicians in the US.

Borden joined the company’s Firestone Complete Auto Care network in Virginia Beach, Virginia, in 2016 after completing an associate degree in automotive technology at Tidewater Community College. He holds nine ASE certifications and has exceeded his service productivity rate by nearly 300 per cent for the past two years, according to the company.

Marko Ibrahim, president of Bridgestone Retail Operations, said: “Zach exemplifies the spirit of this award through his commitment to efficiency, clear and productive communication, and fostering a collaborative work environment. He is a standout technician and a trusted advisor for our customers, and it is an honour to recognise his servant leadership.”

Borden said: “Being named ASE Master Technician of the Year is truly an honour, and I’m grateful to be recognised for the quality of my work. What means the most to me is the opportunity to grow alongside a team that supports, challenges, and learns from one another every day.”

ASE Technician of the Year nominations are determined by employers based on test scores, on-the-job performance and community involvement. Bridgestone Retail Operations selects candidates from its network of more than 2,200 outlets across the US operating under the Firestone Complete Auto Care, Tires Plus, Hibdon Tires Plus and Wheel Works brands.

The award follows the accreditation of Bridgestone Retail Operations’ technician-training curriculum by ASE in October. Accreditation is granted to institutions that meet established standards for technical education and is intended to support technicians in gaining ASE certifications throughout their careers.

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