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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Michelin India has opened a new Michelin Tyres & Services (MTS) store in Jodhpur through a partnership with Sushil Tyres. Located on Chopasani Road, the facility expands the French tyre giant’s retail footprint across Rajasthan while offering premium tyre solutions to local motorists.

Spanning 1,800 square feet, the outlet features Michelin’s full range of passenger car tyres alongside modern wheel alignment and balancing equipment. The inauguration was led by Prashant Sharma, Michelin India’s National Sales Director, with the site designed to deliver a premium and convenient service experience.

Jodhpur, known as the Blue City and a fast-growing commercial hub in Rajasthan, benefits from a strong tourism economy and rising numbers of premium vehicle owners. Sushil Tyres, a trusted local name since 1984, brings over four decades of aftermarket expertise, making the collaboration a blend of global technology and deep community knowledge focused on safety, durability and performance.

Shantanu Deshpande, Managing Director, Michelin India, said: “Jodhpur represents a key market in Michelin's growth strategy for the region. The city's rapidly evolving mobility landscape, driven by growing infrastructure and a rising base of premium vehicle owners, makes it an important hub for our retail expansion. The launch of our new Michelin Tyres & Services Store in Jodhpur reinforces our commitment to expanding our network and ensuring greater accessibility to Michelin's premium products and services. This expansion is aligned with our plans to introduce Made-in-India passenger car tyres, reinforcing our commitment to delivering globally benchmarked products tailored for Indian consumers”

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Bridgestone India, a wholly-owned subsidiary of Bridgestone Corporation, has introduced a new brand campaign titled ‘Feel the Bridgestone Difference’. The initiative centres on the often-overlooked role of tyres as the sole critical contact point between a vehicle and the road. While every car is designed with a specific performance level in mind, the campaign argues that a vehicle can only realise its true potential when equipped with the appropriate tyres.

According to the campaign, tyres influence control, safety, confidence and driving smoothness far more than most drivers realise. Even the most well-engineered car delivers an incomplete experience without proper tyre fitment. Bridgestone positions its products as the key to unlocking a vehicle’s full capabilities, allowing drivers to feel a tangible difference on every journey. Over the past 30 years, Bridgestone India has focused on technology, manufacturing excellence, innovation and quality to build products that stand apart.

A key highlight of the campaign is the company’s commitment to staying ahead of industry standards without compromise. Bridgestone tyres offer benefits including better grip, stronger braking, smoother handling, lower road noise, improved fuel efficiency and longer tyre life. Drawing inspiration from nature, the campaign features animals such as the mountain goat, cheetah and rhino to symbolise grip, speed, strength and control in challenging terrains. This creative approach mirrors how Bridgestone tyres are engineered to perform across India’s diverse road and driving conditions.

The campaign serves as a reminder that while every car has built-in potential, the right tyres bring it to life. Promoted across multiple platforms nationwide, the initiative reinforces Bridgestone India’s long-standing promise of performance, safety and reliability for every driver.

Rajiv Sharma, Executive Director – Sales and Marketing, Bridgestone India, said, “Bridgestone has been a trusted name for Indian consumers, and that trust has come from consistently delivering safe, high-quality products and a superior driving experience. Our customers have experienced the Bridgestone difference over the years – whether in better control, smoother rides or long-lasting performance. ‘Feel the Bridgestone Difference’ is a campaign people will instantly relate to because it reflects something they have already felt. With this campaign, we want to take that experience to a larger audience and help more people understand how the right tyre fitment can completely transform the way a car performs.”

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ZC Rubber showcased its full brand portfolio at TyreXpo Asia 2026 in Bangkok, drawing attention from customers, distributors and industry partners across Southeast Asia and other global markets. The Chinese manufacturer presented six of its brands at the event: WESTLAKE, GOODRIDE, CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE.

The Bangkok exhibition, recognised as a key Asian gathering for the tyre industry, brought together resources from the tyre sector, automotive aftermarket and related supply chains. This provided ZC Rubber with a strategic platform to demonstrate its brand strength, exchange market intelligence and pursue deeper regional cooperation.

Among the six brands on display, WESTLAKE and GOODRIDE drew particular interest from professional visitors due to their dependable performance and wide market adaptability. The additional presence of CHAOYANG, TRAZANO, GOLDEN CROWN and ORNATE further broadened the company’s ability to address varied market segments and customer applications. A major highlight was the X-Elite commercial tyre series, launched in 2025, which has already entered multiple overseas markets and gained strong recognition from fleets, dealers and end users for its durability, mileage and resilience in demanding conditions.

Representatives from Thailand’s Ministry of Energy visited the ZC Rubber booth during the show, learning about the company’s brand structure, product uses and Asian market development. Their visit underscored local interest in tyre industry and supply chain progress, reinforcing ZC Rubber’s commitment to deepening its Southeast Asian presence. Moving forward, the company plans to leverage its multi-brand strategy, comprehensive product lineup and global service capabilities to deliver high-value tire solutions and unlock further growth opportunities across the region.

Shen Haoyu, Senior Vice President, ZC Rubber, said, “Asia is a key part of ZC Rubber’s global strategy. Through international platforms such as TyreXpo Asia, we are able to listen more closely to our customers while demonstrating to global partners ZC Rubber’s confidence, upward momentum and strength to grow with the market.”

Justin Cui, Asia Sales Director, ZC Rubber, said, “The Southeast Asian market is highly dynamic and continues to raise expectations for product adaptability and service responsiveness. We will continue to strengthen local market engagement, work closely with our partners and seize new growth opportunities together to create greater value for users across the region.”

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Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.

The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.

The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.

For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.

Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.

Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.

Apollo Tyres Posts 14% Rise In Q4 Revenue

Apollo Tyres reported a 14 percent rise in fourth-quarter revenue, supported by strong demand in India’s replacement and original equipment segments.

The tyre maker said consolidated revenue from operations for the quarter ended March 2026 rose to INR 73.36 billion from INR 64.24 billion a year earlier. Operating profit increased 28 percent to INR 10.69 billion, while net profit rose to INR 6.31 billion from INR 1.85 billion in the corresponding quarter last year.

The company said the latest quarterly profit included the estimated after-tax impact of restructuring and impairment charges of INR 3.38 billion, disclosed as exceptional items, as well as a one-off tax reversal of INR 5.74 billion linked to the adoption of a concessional tax regime.

For the full financial year ended March 2026, consolidated revenue increased 9 percent to INR 284.71 billion from INR 261.23 billion a year earlier. Operating profit rose 16 percent to INR 41.43 billion, while net profit stood at INR 13.72 billion compared with INR 11.21 billion in the previous year.

Apollo Tyres said its Indian operations delivered their highest-ever quarterly revenue during the period. Truck and bus radial tyre sales grew by more than 20 percent in the fourth quarter.

Onkar Kanwar, chairman of Apollo Tyres, said performance in India remained “robust”, particularly in the replacement and original equipment segments, while European operations were in line with prevailing market conditions. He added that geopolitical tensions in West Asia continued to pose challenges, although the company remained optimistic about demand momentum in India, supported by positive rural sentiment.

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