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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Giti Tire has broken into the top tier of the global tyre industry, securing the eighth position on the Brand Finance Tyres 25 2026 ranking. The annual financial report also crowned the manufacturer as the world’s fastest-growing tyre brand, a distinction driven by a remarkable 37.7 percent surge in brand value. This financial lift brought the company’s valuation to USD 1.47 billion, pushing it one spot higher in the global order and signalling a sharp increase in its competitive clout.

Analysts at Brand Finance pointed to a trio of strategic priorities behind the company’s ascent: relentless innovation, advanced tyre engineering and deliberate worldwide expansion. Over the last 12 months, the tyre maker has solidified its hold on both original equipment and replacement markets while tailoring a new product family for the booming electric vehicle sector. A standout technical achievement came through a partnership with BYD’s luxury Yangwang division, where Giti’s Sport e.GTR2 Pro tyres helped the Yangwang U9 hit several high-speed performance milestones, directly challenging traditional premium brands in the EV and high-performance arenas.

The company’s physical footprint now includes five manufacturing plants and five R&D and testing hubs, distributing goods to more than 130 countries. Heavy investment continues in the AdvanZtech and T5 Smart Technology platforms, which are designed to produce next-generation tyres for passenger cars, commercial fleets and electric vehicles. That industrial reach is matched by a retail network of over 100,000 professional outlets worldwide, a logistical asset that Brand Finance cited as a key enabler of the brand’s rapid global service delivery and market penetration.

Giti’s new standing places it alongside industry titans such as Michelin, Bridgestone, Continental, Goodyear, Dunlop, Pirelli and Yokohama. Beyond the ranking itself, the fastest-growing tyre brand title reflects mounting recognition from carmakers, business partners and consumers alike. As the mobility sector undergoes electrification, digital shifts and sustainability demands, Giti continues to channel resources into modern tyre solutions, aiming to cement its status among the world’s tyre industry leaders.

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Bridgestone Retail Operations, a subsidiary of Bridgestone Americas and operator of the largest network of company-owned automotive service providers in the world, has unveiled plans to mark the 100th anniversary of Firestone Complete Auto Care. The yearlong observance will include special events, promotions and new customer initiatives across more than 1,800 US locations.

Among the centennial offerings, Firestone Complete Auto Care will release its inaugural state of auto care report this summer, drawing on millions of data points from its retail network to highlight customer trends and cost-saving insights. The company is also launching an interactive online history archive that showcases a century of achievements and innovations. Additionally, the brand will donate its 100th Driving Great Futures passenger van to the Boys & Girls Clubs of America, expanding reliable transportation for youth programs, a partnership active since 2015. Anniversary promotions and offers are available throughout the year.

The business traces its origins to founder Harvey Firestone, who, a 100 years ago, established one-stop service stations for tyres, gasoline, oil, batteries and brakes. During the 1920s and 1930s, the company helped shape the auto care industry through warranties, lifetime guarantees, advanced diagnostics and specialised training. Harvey Firestone’s customer-first philosophy remains a cornerstone of operations today.

Currently, the Firestone Complete Auto Care network spans 48 states and employs more than 9,500 technicians, all supported by an Automotive Service Excellence accredited training programme. The brand’s century-long legacy continues to emphasise trusted reliability and dependability, honouring both past and present employees who have built that reputation.

Marko Ibrahim, President, Bridgestone Retail Operations, said, “When Harvey Firestone established the first network of Firestone service stations in 1926, he helped pioneer the automotive care industry and set us on a course of innovation as the automobile evolved. Over the past century, Firestone Complete Auto Care has become a trusted neighbour and dependable resource in communities across the nation. We are grateful to our customers past and present and look forward to continuing this journey together for another 100 years.”

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Hankook Tire has announced a new distribution partnership with Grupo Q, a leading automotive group in Central America. The agreement was formalized during Expo Off Road 2026, held at the Pedregal Event Center in Heredia, Costa Rica.

Under the deal, Grupo Q and its specialised AutoPits network will integrate Hankook’s full tyre portfolio across Costa Rica. The collaboration aims to boost the premium brand’s visibility by increasing consumer touchpoints. At the expo, Central America’s largest SUV and adventure vehicle exhibition, Hankook is prominently showcasing its Dynapro series of SUV tyres for off-road and 4x4 enthusiasts.

This strategic move strengthens Hankook’s commercial competitiveness and brand recognition in the region. Building on the Costa Rica partnership, the company plans to progressively expand its distribution networks into other Central American markets.

Hoseok Shin, Managing Director, Hankook Tire, said, "Allying with an automotive reference in the region as Group Q represents a strategic milestone to expand our presence in Central America. By combining Hankook Tire’s world-class technology leadership with Grupo Q’s extensive local network, we look forward to bringing our premium values and high-performance products to Costa Rican consumers.”

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Sun Auto has expanded its strategic footprint by acquiring two locations: Highland Auto in Tennessee and Highland Tire at Sentry Station in Georgia. This marks the company’s first entry into Georgia and adds a fourth Tennessee site, enhancing regional network connectivity.

The move supports Sun Auto’s broader 2026 growth campaign, which includes new operations in Colorado and brings the company’s total presence to 27 states nationwide. Both acquired shops join the Sun Auto Network, gaining access to 24/7 online scheduling, digital vehicle inspections and the company’s Driver Commitment focused on clarity, confidence and customer care.

Each location provides a full range of automotive services, including major tyre brands with a price match guarantee, alignments, brake service, oil changes, batteries, diagnostics and preventative maintenance. Sun Auto now operates over 575 locations nationwide through both acquisitions and new builds.

Chris Tavares, SVP Operations, Sun Auto, said, "Expanding into the Southeast is an important step in strengthening our national footprint and positioning our network for long-term growth. Establishing a presence in Georgia allows us to serve more customers, support our teams with greater regional resources and build stronger continuity across key markets."

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