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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Indian manufacturer invests in radial tyre capacity and electric vehicle products as it seeks growth in domestic and export markets

JK Tyre and Industries is expanding production capacity and pushing into higher-value tyres as the Indian manufacturer seeks to capitalise on strong vehicle demand, the shift towards premium cars and the growth of electric mobility.

The company plans to invest in additional truck and bus radial and passenger car radial capacity, while broadening its distribution network and developing products for overseas markets. The strategy comes as a sharp increase in raw-material prices threatens to erode the benefits of rising sales.

Nearly 30 percent of JK Tyre’s passenger car tyre volumes in the first half of the financial year came from premium products with wheel sizes of 16 inches and above, Managing Director Anshuman Singhania told analysts on the company’s second-quarter earnings call. The segment has grown at an annual rate of about 20 percent over the past two to three years.

The shift towards larger tyres reflects changing consumer preferences in India’s car market, where manufacturers are increasingly catering to buyers seeking more premium vehicles. JK Tyre is seeking to capture that demand while maintaining its position in commercial vehicle and agricultural tyres.

Electric mobility and premium products

Electric mobility is another area of growth. The company said its electric vehicle tyre volumes rose by more than 24 pe cent quarter on quarter. It also highlighted its position in electric trucks and buses, and said the MG Hector Tomahawk had been launched with its Ranger HPE electric vehicle-specific tyres.

JK Tyre is investing in research and development and using artificial intelligence and machine learning in product design, manufacturing and supply-chain management. The company is also expanding its range of specialist off-the-road tyres, targeting applications where product performance and specifications are important purchasing considerations.

Expanding distribution

The push into premium products is accompanied by an effort to widen the company’s reach among customers. During the second quarter, JK Tyre added more than 250 pit shops and more than 80 dealers and distributors, almost half of the latter in rural markets. It also expanded its fleet accounts.

The replacement market, in which vehicle owners buy tyres independently of new vehicle purchases, accounted for about 60 percent of standalone revenue.

Demand remained strong across several categories. Truck and bus radial tyre volumes supplied to original equipment manufacturers increased 76 percent year on year, while passenger car radial volumes rose 14 percent. Farm tyre demand also grew, although management warned that uneven rainfall in some agricultural regions could weigh on the farming season.

JK Tyre expects demand to remain healthy in the second half of the financial year, supported by infrastructure spending, freight movement and vehicle manufacturers’ year-end purchasing. It expects high-single-digit growth in the truck and bus replacement market and mid-single-digit growth in passenger car tyres over the medium term.

Raw-material inflation

The outlook is less straightforward on costs. Raw-material prices have risen by about 30 percent over the past six months, according to management, amid supply-chain disruption and geopolitical tensions linked to the conflict in West Asia. The company expects a further increase of 4–5 per cent in its raw-material cost basket in the third quarter.

JK Tyre plans to raise selling prices by a similar amount, but acknowledged that passing on higher costs is difficult in the replacement market, where customers are sensitive to price. Price increases under contracts with vehicle manufacturers are partly linked to input-cost indices, but take time to feed through.

The company is relying on higher selling prices, a more favourable product mix and cost efficiencies to protect profitability. Its ability to do so will be tested if commodity inflation persists.

Capacity and export plans

Capacity expansion is central to the growth strategy. JK Tyre said projects worth about INR 13 billion covering truck and bus radial and passenger car radial tyres were under implementation, following the completion of projects worth INR 14 billion. Utilisation at its Indian plants was above 90 percent across key segments, leaving the company looking to add capacity to meet demand.

JK Tyre is also looking overseas for growth. The company is assessing opportunities arising from the India-UK free trade agreement and has developed products specifically for European markets. Management said it was already supplying some European markets, but did not confirm any material increase in UK orders or shipments following the trade agreement.

Exports from India rose 14 percent sequentially in the second quarter.

Mexican subsidiary recovers

Its Mexican subsidiary, JK Tornel, is meanwhile continuing a recovery programme focused on operational efficiency, quality and modernisation. Management expects sales to move towards levels comparable with the previous year in the third and fourth quarters. It also reported triple-digit growth in shipments from Mexico to the US on a quarter-on-quarter basis, against a backdrop of uncertainty over US trade policy and the review of the United States-Mexico-Canada Agreement.

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Kuraray America, Inc. (KAI) returned as a sponsor of the Galveston Bay Foundation’s Bike Around the Island, with 21 cyclists completing a 43-mile ride on 17 October 2026. The event coincided with the 20th anniversary celebration of Bike Around the Bay, reinforcing KAI’s support for the Foundation’s conservation mission.

Although the ride spanned a single day, the cause continues year-round through initiatives such as the River, Lakes, Bays ’N Bayous Trash Bash and oyster reef monitoring at Sweetwater Nature Preserve. These programmes protect the Bay’s waters, restore coastal habitats and preserve regional biodiversity. KAI contributed to that mission by mobilising nine volunteers alongside participating employees, family members and friends, collectively raising more than USD 8,300 for GBF’s conservation efforts.

At the second rest stop, KAI volunteers welcomed cyclists with encouragement and a chance to reconnect before the next stretch. For cycling team captain Diana Maya, the stop became a meaningful moment of teamwork and connection, illustrating how employees and volunteers supported both the event and one another. Special recognition went to Maya and Johnny Alvarado, KAI’s volunteer lead, for coordinating this year’s participation, and the company expressed appreciation to every cyclist, volunteer, employee, family member and friend who contributed time, energy and encouragement.

The 20th anniversary marked two decades of bringing cyclists, volunteers, corporate partners and community members together for Galveston Bay. KAI congratulated the Foundation on the milestone and affirmed its commitment to community engagement and environmental stewardship, supporting efforts that protect natural ecosystems surrounding the communities where employees live and work. From cycling 43 miles to volunteering at rest stops and supporting year-round conservation, KAI’s participation reflected a shared commitment to protecting Galveston Bay for future generations.

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Goodyear is continuing its holiday partnership with the U.S. Marine Corps Reserve Toys for Tots Program by hosting toy drives at all three of its blimp bases, marking the 16th year of the tradition. The events offer community members a rare chance to step inside the iconic Goodyear Blimp hangars while contributing to local children’s holiday celebrations.

Guests at each location are encouraged to bring a new, unwrapped toy, with all donations supporting Toys for Tots campaigns in the respective blimp base communities. Over the past 16 years, these drives have collected more than 300,000 toys and raised over USD 875,000 for the Marine Toys for Tots Program, brightening the holidays for children and families nationwide.

The Ohio Wingfoot Lake base will host a drive-through event 4–6 December from 2–7 p.m., allowing residents an exclusive behind-the-scenes look before dropping off donations to a US Marine representing Toys for Tots. In Florida, Pompano Beach will hold open house hangar tours on 6 December from 11 a.m.–5 p.m., with registration available online. California’s Carson location will welcome attendees on 4 December from 2–5 p.m. and 5 December from 9 a.m.–1 p.m., with tour spots reservable beginning 1 November.

Founded in 1947, Toys for Tots collects new, unwrapped toys during October, November and December and distributes them as Christmas gifts to disadvantaged children in the communities where campaigns are conducted. The blimp bases will also accept mailed toy or monetary donations, with details available on the Goodyear Blimp website and Facebook page. 

Joni Fitch, Director of Community Engagement, Goodyear, said, “For 16 years, this tradition has brought our communities together around the holidays in a uniquely Goodyear way. Opening our blimp hangars gives us a special opportunity to welcome our neighbours and support Toys for Tots in helping make the holidays brighter for local children and families.”

Retired Marine Colonel Ted Silvester, Chief Revenue Officer of the Marine Toys for Tots Foundation, said, "We are very pleased to welcome Goodyear back for their 16th year as a National Corporate Donor of the Marine Toys for Tots Program. With their generous support, we will be able to fulfil the Christmas holiday dreams of thousands of less fortunate children, who otherwise might have been forgotten."

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Bridgestone has unveiled a new generation of aircraft tyres designed for the Boeing 737, delivering improved wear performance through optimised design. The tyres were first introduced on aircraft flown by partner airlines, helping to enhance their operational efficiency, and the company now intends to extend their availability to carriers worldwide. From 2027, tyres incorporating the advanced technology are scheduled to be fitted to a broad range of aircraft.

The launch comes as aviation continues to recover rapidly from the Covid-19 pandemic, a rebound that has brought labour shortages and made operational efficiency more critical than ever. At the same time, the sector is stepping up sustainability efforts in support of the International Civil Aviation Organization's target of net-zero CO2 emissions by 2050. Bridgestone refined the technology using extensive flight data supplied by partner airlines together with its own simulation tools, carrying out thorough evaluations and verification across a wide range of conditions.

The new tyres preserve the high durability of the company's existing Revolutionarily Reinforced Radial (RRR) technology while markedly improving wear resistance and curbing uneven wear through a new tread compound and an optimised contact profile. Casing durability has also been strengthened via an optimised sidewall design. Combined with advanced tyre wear prediction solutions developed alongside airlines and with retreading, the tyres support greater operational efficiency and lower CO2 emissions without compromising safety or reliability.

The new compound, which improves carbon black reinforcement and dispersion through Bridgestone's proprietary NanoPro-Tech molecular control technology, delivers better wear balance during landing and taxiing. Compared with the previous product, the tyre achieves more than 20 percent additional landings per tyre, reducing replacement downtime and maximising aircraft utilisation for high-frequency operators such as domestic carriers, while helping to lower operating costs.

Separately, the combination of flight data and simulation enabled Bridgestone to optimise contact conditions for aircraft-specific surfaces, including runways and taxiways, producing more uniform contact and cutting irregular wear seen on certain routes by more than 20 percent. This lowers the risk of unplanned replacements and flight delays, supporting on-time performance and easing the burden on maintenance teams. Further optimisation of the sidewall design based on RRR technology has extended tyre durability, and because roughly 80 percent of the materials in a retreaded tyre can be reused from the original, retreading reduces CO2 emissions at the manufacturing stage.

Bridgestone's aircraft tyres hold the leading installation share among airlines ranked in the top 10 of the SKYTRAX World Airline Awards 2025, underpinning safe and reliable operations. The company aims to maximise the productivity and economic value of airline operations, in line with the ‘Extension’ and ‘Economy’ commitments set out in the Bridgestone E8 Commitment, while enabling longer tyre life with lower resource consumption and emissions.

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