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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Apollo Tyres has expanded its premiumisation strategy with the inauguration of a super-premium branded retail outlet in Jaipur. The flagship location, situated at Bhagwati Motors Nokha Pvt Ltd on New Sanganer Road in the Mansarovar Area, was officially opened by Rajesh Dahiya, the company’s Vice President and Business Head.

This retail concept transcends the traditional tyre store model by integrating high-end products, expert advisory services and digital technology with a community-centric atmosphere for car enthusiasts. Patrons can benefit from tailored tyre selections aligned with their specific vehicle and driving habits, alongside conveniences such as online scheduling, rapid installation and upscale waiting lounges.

Notable features include curated product ranges and service bundles designed for luxury and performance vehicles, alongside dedicated spaces for automotive hobbyists to participate in brand-driven events. This Jaipur facility represents the second such venture following a similar launch in Bengaluru, with Apollo Tyres planning to establish three to four additional outlets in other major cities shortly.

This new format underscores Apollo Tyres’ commitment to redefining customer engagement in the mobility sector, shifting focus from mere product sales to personalised, experience-oriented interactions. The initiative strengthens the company’s foothold in the premium mobility segment while reinforcing its ongoing journey toward elevated brand positioning across India.

Rajesh Dahiya, Vice President and Business Head, Apollo Tyres Ltd, said, "The expectation of today’s customers extend well beyond the product itself. With this new retail format, we are creating a premium destination that combines expert advice, convenience and personalised service while building stronger engagement with the automotive community."

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Triangle Tyre has secured a position on the 2026 China Auto New Supply Chain Top 100 list, released in Shanghai on 2 July alongside the Global Automotive Supply Chain Enterprise Competitiveness Analysis Report. The recognition highlights the manufacturer's sustained growth and strong overall capabilities within the domestic automotive sector.

The annual ranking evaluates companies based on business results, technological advancement, global support networks and sustainability efforts. Triangle Tyre's repeated inclusion signals industry acknowledgment of its competitive edge and international reach, reinforcing its commitment to long-term quality development.

Innovation remains central to the company's operations, supported by domestic and United States-based research centres. The firm holds 1,322 patents and has contributed to 155 national standards and 15 international standards. Research spending reached RMB 465 million (approximately USD 68.70 million) in 2025, marking a 7.62 percent increase from the prior year.

Key technological advances include an electromagnetic induction curing process that cuts energy use per unit by over 70 percent, backed by multiple patents including two from United States. The company has also introduced adhesion protection for giant OTR tyres and launched the e-Travel series for new energy vehicles, emphasising range, low noise and safety.

Triangle Tyre supplies over 60 domestic manufacturers and collaborates with global names like Caterpillar and Volvo. Shipments for new energy vehicle tyres rose nearly 40 percent in 2025, while OTR tyre volumes grew more than 20 percent. Exports reach over 180 countries, with overseas production projects currently advancing.

Sustainability achievements include national Green Factory status and energy efficiency recognition from the Ministry of Industry and Information Technology. The company earned an EcoVadis Gold Medal with a score of 81, ranking among the top five percent worldwide. Triangle Tyre continues to integrate renewable materials and reduce emissions while strengthening ESG practices to boost future competitiveness.

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Liberty Tire Recycling, a portfolio entity under the global infrastructure investor I Squared Capital, has announced a significant expansion of its Gulf Coast footprint. The company has finalised the acquisition of three key regional players: All American Tire, Colt Tire Recycling and Genan, Inc., the United States subsidiary of Genan A/S. This strategic move consolidates Liberty’s position across Texas and Louisiana, establishing what is now the most comprehensive tyre recycling network in the area.

The unified operations of these three firms are set to dramatically increase Liberty’s existing capacity for rubber processing and tyre collection. By integrating their assets, Liberty aims to offer a seamless suite of services, encompassing collection, processing and the supply of recycled materials. This expansion is a direct response to the escalating demand for sustainable end-of-life tyre management from retailers, manufacturers and municipal governments throughout one of the nation’s most rapidly developing regions.

Each acquired company brings specialised strengths and seasoned leadership to the combined entity. All American Tire, founded by Tom and Jodi Parker in Fort Worth, is a dominant force in collection and crumb rubber production within the Dallas-Fort Worth metroplex. Colt Tire Recycling, established by Kip and Sydney Vincent in Louisiana, is recognised for its collection leadership and innovative applications of recycled rubber in civil engineering. Meanwhile, Genan’s Houston facility is renowned for its advanced processing technology, producing high-grade rubber granules for demanding sectors like automotive parts and playground surfacing. Thomas Boehme of Genan will assume a new role with Liberty to spearhead continued US growth.

To ensure operational continuity and customer stability, senior management from All American, Colt and Genan will transition to Liberty. This integration of experienced leadership is intended to guide the future development of each business. As North America’s premier tire recycler, Liberty processes hundreds of millions of tyres annually. This latest expansion bolsters its circular-economy mission by increasing the availability of recycled rubber for infrastructure, manufacturing and high-value applications across the continent.

Thomas Womble, CEO, Liberty Tire Recycling, said, "We have always been about bringing together proven partners who have built something that enhances Liberty – and All American, Colt and Genan do just that. We look forward to combining our expertise with their proven success to provide customers across the Gulf Coast with expanded capabilities, stronger regional service and new opportunities for sustainable end-of-life tyre management."

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Citira, a Sweden-based company specialising in circular tyre management, has announced the acquisition of Gummiverkstan i Torsby, a well-established service point located in west-central Sweden. The transaction strategically bolsters Citira’s presence along the vital E45 and E16 transport corridors through the Värmland region, adding a key facility to its growing network.

Under the leadership of Karl-Johan Axelsson, Gummiverkstan has built a solid reputation over the years for reliably servicing both heavy vehicles and passenger cars within the Torsby area. The business experienced consistent growth, driven by a steadfast commitment to its loyal local clientele and a focus on dedicated automotive care.

As part of the agreement, Gummiverkstan will maintain its current operations, retaining all staff and continuing at its existing premises while gaining access to Citira’s broader resources to facilitate further expansion. Axelsson will transition into a new role as a co-owner of Citira, ensuring continuity and strategic alignment for the future.

Urban Tibbelin, Head of Sweden at Citira, said, "Gummiverkstan i Torsby is an important addition to our presence in Värmland. Karl-Johan and his team have earned a standing in Torsby that only comes from doing the job well, year after year, and that local trust is exactly the foundation we want to build on. We're glad to have them with us.”

Axelsson said, "It has been a privilege to look after Torsby's vehicles for as long as I have, and joining Citira means me and my team get to keep doing exactly that. With the addition of their backing to serve our customers well for many years to come, I'm confident we will only get better as part of the group.”

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