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)

Comments (0)

ADD COMMENT

Link Copied!

Toyo Tire has begun construction of a new research and development centre in Serbia, marking a further consolidation of its European operations.

The Japanese manufacturer held a groundbreaking ceremony recently at its factory site in the Municipality of Indjija. The event was attended by approximately 100 guests, including Aleksandar Vučić, President of Serbia, and Atsushi Saito, Japan’s chargé d’affaires ad interim to Serbia.

Scheduled to become operational in January 2027, the centre will serve as a hub for advanced processing technology. Engineers at the site will focus on developing rubber compounds and materials, as well as composite design and raw material evaluation.

Satoru Moriya, Director at Toyo Tire, said the facility would "establish a European operational model that coordinates R&D, production, and sales functions," with the aim of boosting the competitive advantage of brands such as Proxes.

The facility is located adjacent to the company’s Serbian factory, allowing the group to use existing proving grounds for driving tests. Toyo Tire expects this proximity to increase development efficiency and reduce the time required to bring products to market.

President Vučić described the investment as a sign that Serbia possesses the "human resources, infrastructure, and determination" required for advanced technological development.

Comments (0)

ADD COMMENT

Link Copied!

Pirelli has made its P Zero R and P Zero Trofeo RS tyres available in the replacement market, bringing the expertise gained from custom fitments for the world’s most prestigious and high-performance vehicles to a broader audience of enthusiasts seeking to unlock their car’s full potential. Developed alongside leading luxury automakers and already fitted to over 60 models – from European supercars to American muscle cars – these two tyres stand as the pinnacle of the P Zero range. Their exceptional quality was recently validated by the independent publication Tyre Reviews, which named the P Zero R the top performance tyre of 2026, describing the achievement as an impressive victory rooted in its outstanding capability across both dry and wet conditions.

Pirelli designed the P Zero R primarily for sportscars and high-end prestige models, while the P Zero Trofeo RS serves as a semi-slick aimed at delivering sustained maximum performance on the track for supercars, all while remaining road-legal. The P Zero R achieves its versatility through advanced compounds that ensure strong grip on various asphalt surfaces and in changing weather, with particular emphasis on wet-road confidence, while its tread pattern reduces interior noise. These attributes were confirmed by Tyre Reviews, which ranked the P Zero R first among eight ultra-high-performance summer tyres in its category, leading in dry braking and handling, excelling in wet handling and receiving praise for inspiring confidence even in extreme driving scenarios. Meanwhile, the Trofeo RS is defined by its ability to maintain consistent high performance across many demanding track laps, a capability demonstrated through record-setting runs on the Nürburgring Nordschleife.

Pirelli refines these tyres using its Milan-based R&D simulator for virtual development, with production carried out by MIRS robots at its Italian plant in Settimo Torinese and its facility in Rome, Georgia, the latter specialising in replacement tyres for the American market, particularly sportscars and local muscle cars. Beyond these offerings, Pirelli continues to advance original equipment technology with solutions such as Elect for electric vehicles, RunFlat for continued mobility after pressure loss, PNCS for cabin noise reduction and the Cyber Tyre system, which uses embedded sensors to relay real-time data for enhanced safety and performance.

Comments (0)

ADD COMMENT

Link Copied!

Kumho Tire USA has launched its inaugural Gaining Traction Programme in collaboration with the Broadmoor Pikes Peak International Hill Climb, presented by Gran Turismo, selecting four competitive racers who each call Colorado home. These drivers share five years or fewer of racing experience on Pikes Peak, yet have demonstrated exceptional skill, passion, and a fearless approach to the mountain’s unique demands.

Matus Huska of Parker will compete in the Pikes Peak Open division aboard his 2010 Audi TTS, bringing four years of experience to the climb. Earl O’Maley from Colorado Springs steps up in the Open Wheel division with three years under his belt, driving his 2015 O’Maley Special Spec V. Ernie Ramirez of Aurora returns for his second year in the Time Attack division piloting a 2013 Mitsubishi Evolution, while Arvada’s Ben Ryan, an old-school racer, enters the Pikes Peak Open division in a 1968 Plymouth Roadrunner after previous Time Attack entries in 2023 and 2024.

Through this inaugural programme, Kumho Tire USA provides the racers with financial support, a supply of KUMHO V730 tyres and driver development resources. Beyond on-track benefits, the drivers will gain visibility by participating in an autograph session at the Kumho Tire booth during Fan Fest in downtown Colorado Springs, offering direct engagement with racing enthusiasts and media.

The KUMHO V730 tyre is engineered for competitive driving environments, maximising grip and handling through a racing compound that combines ultra-high grip synthetic resins with fine carbon black. Its high-strength carcass and optimised footprint design work together to manage lateral cornering forces while enhancing endurance and longevity.

Ed Cho, CEO, Kumho Tire USA, said, "Our investment in these four talented Pikes Peak drivers goes beyond mere sponsorship; it's about fostering the next generation of motorsport champions and helping them navigate the unique demands of this legendary race. Each of the selected participants demonstrates remarkable potential and a passion for racing that aligns perfectly with Kumho Tire's spirit of innovation and performance. We look forward to seeing them leverage our most advanced, high-performance tyre to achieve new milestones in their competitive careers."

Melissa Eickhoff, CEO, Pikes Peak International Hill Climb, said, "Pikes Peak has long been a proving ground for talented drivers, and it's exciting to see a programme that invests directly in emerging competitors from Colorado. Through this partnership with Kumho Tire, these four drivers have the opportunity to grow their careers while contributing to the Colorado legacy that has defined the Race to the Clouds for more than a century."

Comments (0)

ADD COMMENT

Link Copied!

The Tire and Rubber Association of Canada (TRAC) has opened nominations for its 2026 Industry Leadership Awards, with a submission deadline of 24 April 2026. Honourees will be celebrated during the organisation’s Annual General Meeting in June.

Nominations are being accepted across four distinct categories – Leader of the Year, Young Leader, Lifetime Achievement and Sustainability. Anyone can put forward a candidate, though rules vary by category. Companies nominated must have a physical presence in Canada, while individuals may be based anywhere. Self-nominations are permitted only in the Sustainability category.

The Leader of the Year award recognises an individual who owns or manages a successful, innovative business within the tyre and rubber sector, including end-of-life tyre management or sustainability-focused operations. This person is known for significant contributions to their company, the wider industry and their community through time and resources devoted to social impact. Self-nominations are not allowed.

The Young Leader award celebrates inspiring leaders under the age of 40 who demonstrate excellence in management, innovation, technology or sustainability within their organisation or community. Self-nominations are not accepted.

Lifetime Achievement honours individuals with an extensive record of accomplishment, recognised by peers as builders and supporters who have made outstanding contributions and left an enduring legacy for both the industry and the broader community. Self-nominations are not accepted.

The Sustainability award is open to individuals or organisations advancing environmental, social or economic sustainability within the tyre and rubber industry. This includes end-of-life tyre management, market development for tyre-derived materials and strategic efforts such as advocacy, education or partnerships that expand end-use markets. Self-nominations are welcome.

These awards aim to highlight excellence, offering recipients a platform to raise their professional profile and stand out while celebrating dedication across the industry.

Comments (0)

ADD COMMENT

Link Copied!