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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Sri Trang Agro-Industry Public Company Limited (STA) was among 16 industrial organisations recognised for climate action during a recent Bangkok seminar. The event, held on 18 August 2026 at the Thailand Institute of Justice, marked the conclusion of the ‘Project to Promote Greenhouse Gas Emission Target Setting for the Industrial Sector towards Net Zero using the Science Based Target Approach (Phase 3)’, organised by the Thailand Greenhouse Gas Management Organization and Thammasat University's Center of Excellence in Energy Efficiency.

STA participated in developing a Net Zero Pathway aligned with updated certification criteria. The sustainability team shared insights on embedding Net Zero objectives into operations, highlighting management and employee roles in advancing the environmental agenda. A formal certificate was presented to Dr Saranthinee Mongkolratthe, the company's Sustainability Division Manager.

STA targets a 23 percent reduction in Scope 1 and 2 emissions by 2030 from a 2024 baseline, aiming for Net Zero by 2050. Initiatives include energy efficiency improvements, renewable energy adoption and emission reduction plans across factory and group levels. Digital technology and artificial intelligence are deployed for carbon management, enabling performance monitoring and data analysis to support long-term decisions.

STA is also developing low-carbon natural rubber throughout its supply chain to meet global demand for sustainable products. The company's project involvement and recognition demonstrate its commitment to translating targets into action, positioning the business for low-carbon growth while contributing to Thailand's national sustainability objectives.

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Titan International is set to deliver a comprehensive experience for attendees at the 2026 Farm Progress Show, running from 1 to 3 September 2026. At Booth #24S, the company will showcase its extensive portfolio of off-highway tyres and tracks, offer exclusive savings opportunities and provide interactive tools designed to help farmers evaluate the financial benefits of its Low Sidewall Technology. The booth will also serve as a hub for meeting prominent agricultural personalities and supporting future farming leaders through a charitable initiative.

Visitors to the Titan booth can take advantage of a promotional offer providing USD 200 off a qualifying tyre purchase of USD 1,000 or more. Company representatives will be on-site to discuss eligible brands and products and to assist with the redemption process. Additionally, farmers are invited to use the interactive LSW Payback Calculator to assess the potential return on investment for their specific operations. Titan notes that in most scenarios, these tyres can pay for themselves in less than 18 months.

The booth will feature appearances by well-known figures from the agricultural and racing worlds. NASCAR driver and eighth-generation watermelon farmer Ross Chastain is scheduled to appear on Wednesday from 9 am to 12 pm, offering attendees a chance to see his racecar and discuss his farm's use of Titan and Goodyear tyres. Throughout the show, social media personalities will also be present, including the Welker Family and Cole the Cornstar, who will showcase their equipment and discuss their experiences with Titan products.

A highlight of the show will be the first-ever Farm Progress After Hours event on 2 September. Hosted in partnership with Van Wall Equipment and John Deere at Booth #24S, the evening will feature a concert by Iowa country artist Jason Brown and a pyrotechnic drone light show. The event is included with show admission and will commence after the exhibition booths close for the day.

Titan is reinforcing its commitment to rural communities through a tyre raffle benefiting Iowa FFA chapters. Attendees can purchase raffle tickets from FFA students at the booth for a chance to win a set of four tyres, with winners able to choose from Carlstar, Titan or ITP branded products. Proceeds from the raffle will be distributed to participating Iowa FFA chapters, supporting the next generation of agricultural leaders.

As a one-stop shop for off-highway wheel and tyre solutions, Titan will display products from its family of brands, including Goodyear Farm Tires, Carlstar and ITP. With over 40 product lines and 100 tyres on display, the booth aims to provide solutions for various equipment needs.

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PT Bridgestone Tire Indonesia (Bridgestone Indonesia), a subsidiary of Japan’s Bridgestone Corporation, marked its golden anniversary with a formal ceremony in Jakarta on 24 August. The event served as a platform to acknowledge the critical role played by various partners and stakeholders in the company’s five-decade journey within the nation.

The commemorative gathering was honoured by the presence of Minister of Trade Budi Santoso, alongside representatives from the Indonesian government, the automotive industry association GAIKINDO and a broad network of clients and business associates. This assembly of industry leaders underscored the strong collaborative ecosystem that has been fundamental to the company's operations.

Bridgestone’s operational history in Indonesia dates back to 1976 with the establishment of its first production facility in Bekasi. The subsequent opening of a second plant in Karawang in 1999, which includes a global-standard proving ground, significantly enhanced production capacity and technical capabilities to meet rising domestic and regional demand. Presently, the company serves diverse market segments, including passenger, commercial and specialty tyres, by integrating global manufacturing standards with local market insights.

Looking ahead, Bridgestone Indonesia is intensifying its commitment to advanced technologies and sustainable mobility, exemplified by the 2026 local supply of B-Silent tyres for a global automaker’s electric vehicles. Building on its robust local research, design and manufacturing foundation, the company aims to further leverage its global network to deliver safer and more efficient solutions. As a key market for Bridgestone Corporation, which operates in over 150 countries, Indonesia remains central to the company’s regional strategy, with a steadfast focus on fostering long-term value for the nation's economy and automotive sector.

Budi Santoso, Minister of Trade of the Republic of Indonesia, said, "We extend our appreciation and congratulations on Bridgestone's 50th anniversary in Indonesia. We are highly receptive to future investment and collaboration opportunities involving Indonesian investors and Bridgestone. The Government of Indonesia remains open to receiving ongoing input and engaging in strategic discussions aimed at strengthening domestic market dynamics, maximising global export opportunities and advancing investment policy proposals.”

Nobuyuki Tamura, Member of the Board, Representative Executive Officer, EAST CEO, Bridgestone Corporation, said, "As Bridgestone Indonesia celebrates its 50th anniversary, we are proud of the strong foundation built together with our employees, customers and partners over the past five decades and deeply grateful to all of our stakeholders for their longstanding trust and support. Indonesia is both an important market and a strategic manufacturing and export base within Bridgestone's global network. Guided by our unchanging Mission, 'Serving Society with Superior Quality’, we remain committed to growing together with Indonesia and creating greater value for customers and society in the decades ahead."

Mukiat Sutikno, Managing Director, Bridgestone Indonesia, said, "Over the past five decades, Bridgestone Indonesia has grown alongside the country's automotive industry, supported by the trust of our customers, partners and communities. As we look ahead, we will build on this strong foundation by deepening our local capabilities, responding to the evolving needs of the market and delivering solutions that make mobility safer, more efficient and more sustainable. Our commitment to Indonesia remains as strong as ever, and we look forward to continuing this journey together with our stakeholders.”

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The Yokohama Rubber Co., Ltd. has initiated the full-scale deployment of a proprietary generative artificial intelligence system, which became operational in August 2026. This advanced platform employs Retrieval-Augmented Generation (RAG) technology to sift through the company’s extensive internal repository of technical documentation. The primary objective is to furnish development engineers with rapid and precise access to critical information, thereby streamlining decision-making processes in areas such as material innovation and tyre design.

This system represents a significant expansion of Yokohama Rubber’s existing HAICoLab AI framework, first established in October 2020. While the company had previously introduced AI tools for predicting rubber properties, generating novel compounds and assisting mould design, a persistent challenge remained in efficiently navigating the vast collection of regulatory texts, manuals, reports and case studies that constitute essential domain knowledge. The new generative AI system was developed specifically to address this gap, enabling swift retrieval of pertinent data aligned with specific development goals.

In practice, engineers pose questions tailored to their project’s specific context and the AI searches for the most relevant information from internal records to formulate its answers. To further refine accuracy, an integrated AI agent interprets the user’s intent and autonomously cycles through planning, information retrieval and evaluation steps. Moreover, the system provides direct links to the original source documents, allowing staff to confirm the validity of the AI-generated responses and incorporate them into their analytical and strategic work. This functionality effectively integrates accumulated technical knowledge into the HAICoLab-driven development environment.

Concurrent with these technological advancements, Yokohama Rubber is actively cultivating digital transformation personnel proficient in utilising the HAICoLab platform. The company remains committed to enhancing the system’s capabilities and leveraging its internal data and intellectual assets to foster the creation of innovative products, processes and services moving forward.

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