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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Ironman Tires, a brand owned by Hercules Tire and Rubber Company (HTR), a wholly owned subsidiary of American Tire Distributors, has unveiled the iMOVE Sport G2, a next generation all season ultra-high-performance tyre crafted for modern sport sedans, performance crossovers and select electric vehicles. This launch responds directly to shifting demands in the automotive market.

Building on the original iMOVE Gen2 A/S, the new model features an advanced tread compound, a refined tread pattern and better durability. It offers confident traction on both dry and wet roads, extended tread life and a quieter, more comfortable ride. Priced competitively, it helps dealers gain ground in the rapidly growing Tier 4 performance tyre segment. The asymmetrical tread layout balances precision handling with daily comfort, using large outer shoulder blocks for cornering stability and a continuous centre rib for straight line control. Strategically placed 3D siping and angled grooves push water away from the contact patch to improve wet and light snow traction, while a variable pitch tread sequence cuts road noise for commutes or long trips.

A new generation rubber compound reduces heat buildup and extends tread life by managing frictional heat and optimising rubber density, which also boosts fuel efficiency. The tyre is EV ready, designed to handle the higher torque and weight of electric vehicles. Available in 17 sizes for 18- to 21-inch rim diameters, 16 sizes will arrive by early May, with the first eight ready now. Several emerging sizes new to the Ironman lineup give dealers fresh sales opportunities.

Competitive pricing and dedicated merchandising support help dealers grow their share in the value-oriented performance tyre segment while maintaining strong inventory and fill rates. The iMOVE Sport G2 comes with a 5-year limited protection policy covering workmanship and materials, road hazard protection and a 50,000-mile (approximately 80,467-km) warranty.

Keith Calcagno, Chief Strategy Officer, Proprietary Brands, American Tire Distributors, said, “The ultra‑high‑performance tyre market has evolved rapidly as vehicles become more powerful and more refined and as demand grows for tyres that can meet the unique requirements of electric vehicles. The iMOVE Sport G2 delivers the performance drivers expect while helping dealers boost inventory flexibility and capture more market share.”

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GRP Ltd, a leading manufacturer of reclaimed rubber, engineering plastics and repurposed polyolefins, has announced the retirement of Virendra Rathod, President of Marketing and Business Development, effective 31 March 2026. Following his retirement, Rathod will no longer be part of the company’s senior management personnel, said the company in its BSE filing.

During a board meeting held on 27 March 2026, the directors formally took note of Rathod’s retirement and recorded their appreciation for his valuable contributions throughout his service with GRP Ltd. His departure marks the conclusion of a significant chapter in the company’s marketing and business development functions.

In a separate leadership change, Jyoti Sancheti has resigned from her role as Company Secretary and Compliance Officer, effective from the close of business on 7 April 2026 to pursue external opportunities. Consequently, she will also step down from additional responsibilities, including Compliance Officer under the SEBI Prohibition of Insider Trading Regulations, Nodal Officer under IEPF rules and the authorised person for determining event materiality and stock exchange disclosures under SEBI Listing Regulations.

GRP Ltd has confirmed that the process to appoint a new Company Secretary is underway and will be completed within the prescribed timeframe.

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Niutech Environment Technology Corporation (Niutech), a China-based company specialising in continuous pyrolysis technology for recycling waste tyres, plastics and oil sludge, marked a major milestone on 24 March 2026 as its majority owned subsidiary, Shandong Hesheng Environment Technology Co., Ltd., broke ground on a significant expansion. This project will add 100,000 tonnes of annual tyre pyrolysis capacity, raising Hesheng’s total processing volume from 60,000 to 160,000 tonnes per year. With this increase, Hesheng becomes the world’s largest operation for collecting, processing and comprehensively utilising scrap tyres through pyrolysis technology.

At the heart of this expansion is Niutech’s latest generation of high capacity, continuous intelligent pyrolysis equipment, which delivers better performance in per unit output, system reliability and automation compared to conventional designs. These improvements are expected to reduce operating costs per tonne and strengthen the overall financial viability of the project. Solving the challenge of large scale, uninterrupted commercial pyrolysis has long been a central goal for the industry. This project proves Niutech’s progress not only in advanced equipment development but also in making continuous pyrolysis practical for widespread industrial use.

On the product quality side, Hesheng has drawn on Niutech’s research capabilities to steadily improve the consistency and performance of its pyrolytic outputs. The tyre derived oil has already earned international certifications, giving it access to demanding global markets. At the same time, through ongoing technical innovation, the pyrolysis carbon black is being upgraded towards standardised, higher value applications. These efforts directly address customer needs for uniform quality, reliable handling and strong application specific performance.

With the circular economy gaining speed worldwide, major tyre producers, chemical companies and material buyers are seeking greater volumes of high-grade pyrolysis oil and carbon black. Once the expanded facility is online, Hesheng will be equipped to meet that demand with stable, large-scale supply of dependable recycled materials. Niutech has also stated that it will continue using its public company strengths in technology and capital to drive further equipment upgrades and broader deployment of pyrolysis systems, supporting global waste tyre recycling and low carbon development.

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Sun Auto Network has expanded its footprint in Southern Indiana and the Greater Louisville market with Carmerica in Sellersburg, Indiana, officially becoming part of the network on 6 April 2026. This integration strengthens Sun Auto’s regional presence while bringing new resources to the local shop. Carmerica will retain its full range of automotive services, including tyre replacement, alignments, brake work, oil changes and preventative maintenance, ensuring that loyal customers continue receiving the same trusted care.

Under Sun Auto’s guidance, Carmerica now benefits from enhanced tools such as round the clock online appointment scheduling and digital vehicle inspections. These additions are backed by Sun Auto’s Driver Commitment, which emphasises clarity, confidence and genuine customer care. The acquisition reflects Sun Auto’s broader growth strategy of partnering with established operators in markets with strong long-term potential and easy customer access.

With over 575 locations nationwide, Sun Auto Network stands as one of the largest independent tyre and automotive service platforms in the country. By combining trusted local brands like Carmerica with the scale and support of a national organisation, Sun Auto continues to build a network rooted in both community reputation and operational excellence.

Rob Kingery, Regional Vice President, said, "This acquisition reflects a disciplined approach to expanding in high-opportunity regional markets where we can build density and deliver a consistent, high-quality experience. Sellersburg helps us deepen our presence in Southern Indiana and better support drivers throughout the Greater Louisville area."

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