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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Hankook Tire has seen its summer tyre range validated this spring by three independent testing authorities. In the Auto Bild summer tyre test from the 10/2026 issue, the Ventus evo claimed overall victory in the 245/45 R19 size with a score of 1.1 and an ‘Exemplary’ rating, while the same model also won the Auto Bild allrad summer tyre test in the 255/45 R19 size from the 12/2026 issue, achieving a 1.2 score. Meanwhile, the Ventus Prime 4 earned strong praise in the AvD summer tyre test.

The Ventus evo’s success in the Auto Bild test began in qualification, where it secured a spot among 20 finalists from a field of 50, thanks in part to the second-best braking distances recorded. In the final dry handling assessments, it delivered the shortest braking distance and the highest average handling speed, while on wet surfaces it posted the fastest lap time on the aquaplaning circuit and the quickest speed in wet handling. The tyre also offered the best price-to-mileage ratio among all finalists.

In the separate Auto Bild allrad test, conducted in a size common for modern SUVs, the Ventus evo demonstrated strength both on and off the road. It led the field in wet braking and wet handling, achieved the highest traction on gravel and wet grass, and remained competitive on dry surfaces with low noise levels and short stopping distances. The test jury concluded it was the most convincing all-rounder for all-wheel-drive SUVs.

In the AvD summer tyre test, conducted with test specialist Tempotire in the 215/55 R17 size, the Ventus Prime 4 delivered a ‘Very good’ overall result. Its performance was particularly notable in wet conditions, where it recorded fast lap times, balanced handling and short braking distances while providing clear steering feedback and safe aquaplaning reserves. On dry roads, it offered reliable handling and strong rolling comfort. The tyre also earned high marks for sustainability, with production in Europe ensuring short transport routes and its EU label ratings reflecting modern construction. The jury highlighted its durability and cost efficiency, reinforcing Hankook’s reputation for delivering premium quality at a competitive price.

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AZuR partner NEW LIFE initiative is set to host the inaugural Municipal Climate Dialogue on 22 April 2026, coinciding with International Earth Day. This free online forum, beginning at 10:00 a.m., is designed for municipal decision-makers to connect with experts and editors from the trade journal KOMMUNALWIRTSCHAFT. The event is structured around three focused 30-minute sessions, each dedicated to exploring proven strategies and concrete implementation methods for developing urban spaces that are both liveable and climate-friendly.

A central theme of this digital expert discussion is the critical role of sustainable building materials, with particular prominence given to high-quality recycled products derived from tyre rubber granulate. These solutions directly address the objectives of a climate-resilient city: reducing CO₂ emissions, minimising waste and conserving natural resources. Furthermore, the use of tyre rubber granulate obtained from end-of-life tyres aligns with the German Circular Economy Act (KrWG), which mandates public contracting authorities to prioritise recycled and durable materials. The dialogue will highlight how such products are instrumental in sustainable urban development.

Following a brief opening plenary, the event will feature three parallel 30-minute sessions, allowing participants to easily navigate between online rooms dedicated to distinct urban development topics. The morning begins at 10:10 a.m. with a focus on sustainable urban development, covering building protection through green roofs and photovoltaic systems, impact sound insulation for various construction types and vibration isolation. At 10:40 a.m., the discussion shifts to playgrounds, sports facilities and green spaces, addressing impact-absorbing flooring, playing field surfaces and green area reinforcement. The final session at 11:10 a.m. centres on transport and sustainable mobility, exploring traffic noise protection, recycled rubber asphalt for roads and traffic calming measures.

Products made from tyre rubber granulate offer municipalities a combination of ecological and economic advantages. Their use helps reactivate open spaces and reduce surface sealing, improving the urban climate through applications like water-permeable paving and rainwater-retaining green roof layers. These solutions are weather-resistant, slip-resistant and customisable while also providing long-term economic benefits due to their durability, low maintenance requirements and reduced need for repairs. Such high-quality recycled products are already being successfully implemented in urban development and municipal renovation projects nationwide.

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Thomas Womble, CEO of Liberty Tire Recycling, a prominent player in North America's tyre recycling sector, has been named Dealmaker of the Year by Pittsburgh Smart Business Dealmakers, an honour that places him among a distinguished group recognised for their decades-long influence on local industry and innovation. This accolade, presented by the Pittsburgh Dealmakers Hall of Fame, celebrates leaders whose work has produced a groundbreaking impact not only within their own organisations but across the broader regional business landscape.

Womble’s leadership was formally celebrated at the Smart Business Dealmakers Conference on 19 February, where the 2026 class of winners collectively illustrated the strength and vitality of Pittsburgh’s business community. Under his direction, Liberty Tire Recycling has evolved into a nationwide environmental services leader, operating a vast network of processing plants and employing more than 3,500 people while helping customers advance their sustainability objectives through large-scale tyre recycling.

A defining moment under Womble’s tenure came with the company’s USD 1.5 billion acquisition by I Squared Capital, a transaction that underscored Liberty’s critical position in circular economy infrastructure. This milestone, coupled with ongoing strategic acquisitions and operational growth, positions the company for sustained expansion as it continues to deliver environmentally responsible solutions for tyre manufacturers and distributors.

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Maxion Wheels, a division of Iochpe-Maxion and a global leader in wheel manufacturing, is playing a key role in bringing Daimler Truck’s vision for more sustainable commercial vehicle manufacturing to life through a collaborative effort on a concept refuse collection truck. This innovative vehicle will be showcased at IFAT Munich, the premier global gathering for the recycling and environmental sector taking place from 4 to 7 May 2026 at Trade Fair Center Messe München. Designed to highlight a commitment to circular materials, resource efficiency and forward-thinking industrial processes, the concept truck serves as a tangible demonstration of how the commercial vehicle sector can embrace environmentally responsible practices.

As the wheel supplier for this project, Maxion Wheels is translating its deep expertise in sustainability into direct action. The company is supplying steel truck wheels engineered through a combination of lightweight construction, optimised design strategies and advanced material science. By incorporating both primary and recycled materials into the manufacturing process, these wheels are specifically developed to help reduce emissions and lower the overall carbon footprint of the vehicle, reinforcing the project’s broader goals of environmental stewardship and industrial innovation.

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