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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The Alliance for the Future of Tires (AZuR) is among three finalists for the Innovation Award of the German Mobility Industry 2026 in the Product/Project category. An expert jury spanning academia, specialist media and all sectors of the mobility industry nominated the cross-industry network for its holistic approach to the tire circular economy. Organised by the German Society for Traffic Sciences (DVWG), the award honours innovative, practical and transferable solutions for tomorrow's mobility. The winner will be announced at a ceremony on 17 November 2026 in Frankfurt's Paulskirche.

The network's goal is to keep tyres and their valuable raw materials in the economic cycle for as long as possible. AZuR connects companies from the tyre industry, tyre retail, remanufacturing and recycling with science and research and partners jointly develop and promote sustainable solutions along the entire tyre value chain. Priority goes to extending service life through proper maintenance, repair, retreading and refurbishing, with material recovery and reuse through recycling reserved for tyres that can no longer be used. Roughly 535,000 tonnes of used tyres arise in Germany alone each year, underscoring the importance of longer tyre life and intelligent use of existing resources.

The jury highlighted the finalists' systemic approach, recognising that innovation stems not only from new technologies but also from intelligently interconnecting existing solutions and actors. Joining AZuR in the final are BiciBus-Deutschland, which runs guided bike rides for schoolchildren, and radbox.nrw, a digital platform for safe bicycle parking. Beyond innovative character, the jury deemed it especially crucial that the nominated solutions are already successfully applied and transferable to other areas.

The finalist placement underscores the AZuR network's significance for a resource-efficient mobility economy, as converting linear value chains into closed material cycles demands collaboration among manufacturers, retailers, service providers, recycling companies, research institutions and users. AZuR links these stakeholders, fosters knowledge transfer, initiates research projects and pushes for wider practical use of sustainable tire solutions, so the nomination also honours its partners' shared commitment to longer tyre life, retrofitting and high-quality recycling. Awarded for the sixth time in 2026, the honour also includes a personality prize and a special Mobility Design award, with the ceremony held on the eve of the German Mobility Congress.

Prof Knut Ringat, Chairman of the Jury, said, “Innovation doesn’t always have to be the next big technology. All three finalists combine individual solutions into a system that makes mobility easier, more sustainable and more accessible – and that achieves more than the sum of its parts."

Prof Dr Jan Ninnemann, President of the DVWG and member of the jury, said, “All three finalists are already working in practice. We were also convinced that their approaches are not limited to a single location but can be adopted by other schools, municipalities or companies as well."

Anna-Maria Guth, Network Coordinator, AZuR, said, “The nomination is a great recognition for our entire network and shows that the tyre circular economy is an important driver of innovation for sustainable mobility. Together with our partners, we are committed to using tyres longer through remanufacturing, conserving valuable resources and closing the loop.”

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Partnership targets passenger car radial tyres, with new plant planned and joint venture agreement due by 2030.

Balkrishna Industries (BKT), the Indian maker of off-highway tyres, has agreed to establish a 50:50 joint venture with Italian tyre manufacturer Pirelli to manufacture passenger car tyres in India, as both companies seek to expand their presence in the market.

BKT and Pirelli signed a framework agreement on Thursday setting out the proposed venture’s structure and timelines, alongside separate agreements covering tyre manufacturing and technical support, according to a stock exchange filing by BKT.

The proposed joint venture will manufacture passenger car radial (PCR) tyres under the Pirelli and BKT brands and establish a new manufacturing plant in India. The partners intend to share the venture’s manufacturing capacity equally, with each nominating two directors to a four-member board and the chairmanship rotating between them.

The joint venture agreement is yet to be signed. The companies have agreed to incorporate the venture by December 31 2030, subject to the fulfilment or waiver of specified conditions.

Under an interim offtake agreement, BKT will manufacture Pirelli-branded passenger car tyres at its existing plant in Bhuj, Gujarat, using Pirelli’s specifications and know-how. Pirelli and its affiliates will purchase the tyres, with pricing based on actual raw material costs plus conversion costs. Payments will be made in rupees for domestic supplies and euros for exports.

The agreement includes a minimum annual purchasing commitment from Pirelli, matched by a corresponding capacity commitment from BKT. The arrangement is expected to remain in force until the joint venture becomes operational and can meet Pirelli’s demand. Otherwise, it will continue until December 31 2031, subject to a possible extension by mutual agreement.

The partnership also provides for Pirelli to supply technical support for testing BKT-branded tyres, including products for sport utility vehicles, passenger cars and two-wheelers. The services will use Pirelli’s testing facilities outside India, with BKT paying fees in euros under an agreed pricing schedule.

For Pirelli, which the filing says currently has a commercial presence in India, the venture represents a step towards strengthening its position in a market with growing demand for higher-value tyres. The company reported consolidated revenue of approximately €6.78bn for the year ended December 2025.

For BKT, the agreement offers a route into the passenger car tyre segment beyond its established business, potentially opening opportunities in domestic and international markets.

The agreements also contain restrictions on competing arrangements. While the framework agreement remains in force, neither company may enter a joint venture or similar arrangement with a third party in India to manufacture car, light truck, motorcycle or bicycle tyres, although wholly owned plants are excluded. Under the offtake agreement, BKT cannot manufacture comparable or competing passenger car tyres for third parties, but remains free to develop and sell its own BKT-branded products.

The proposed joint venture’s completion remains subject to the conditions specified in the agreements. The companies have not disclosed a financial value for the transaction or the proposed plant’s investment cost in the filing.

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The Yokohama Rubber Co., Ltd. is set to appear at the IRC2026 AICHI Rubber & Elastomer Technical Exhibition, a four-day gathering running 3–6 November at the Aichi Sky Expo in Tokoname City, Aichi Prefecture. Held in tandem with the International Rubber Conference 2026, which convenes rubber and elastomer scientists and engineers from across the globe, the event carries the theme ‘Future Rubber Technology toward Sustainability’.

Yokohama Rubber's own display, billed as ‘Yokohama's Technology Supporting a Sustainable Society’, will spotlight innovations embedded in tyres and industrial goods that tackle societal challenges through diminished environmental footprints, stronger safety and cost efficiency and lighter labour burdens.

On the tyre front, visitors will encounter the iceGUARD 8 for passenger cars and the newly launched iceGUARD 8 SUV, introduced in September. Explanations will cover the tread patterns and the AQUA BUSTER naturally derived, highly absorbent compound responsible for grip on frozen roads. Racing fans will note ADVAN tyres built from renewable and recycled feedstocks and supplied to Japan's SUPER FORMULA Championship, alongside a BluEarth-GT AE51 prototype incorporating biomass-derived butadiene rubber. The company will also outline R&D balancing performance retention with greater sustainable material uptake and reduced petroleum dependence in synthetic rubber.

Industrial offerings include the Smart Belt, a conveyor belt carrying embedded RFID tags, together with maintenance support services that harvest wear and temperature readings to recommend upkeep approaches and belt specs matched to operating conditions – enhancing safety while trimming inspection and maintenance effort. Cutaway samples will reveal automotive air-conditioning hose construction using lightweight resin liquid piping and marine hose architecture underpinning safe seaborne crude and petroleum product transport.

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Pirelli has confirmed its tyre compound choices for the United States Grand Prix at the Circuit of the Americas, selecting the C2 as Hard, the C3 as Medium and the C4 as Soft. This marks a return to a familiar combination after the 2025 experiment that introduced an additional step between the Hard and Medium compounds. Last year the C1 served as the hardest available tyre but was unused in the race, with teams preferring one-stop strategies built around the softer C3 and C4 options. The Austin round opens a triple-header on the American continent that also includes Mexico City and São Paulo, and it stands as the second of three United States-based events this season ahead of Las Vegas.

The weekend reverts to the traditional format without a Sprint, giving teams three free practice sessions to refine car balance and set-ups on a circuit that does not demand extreme compromises. The 5.513-kilometre COTA layout blends high-speed corners, rapid direction changes and slower sections requiring strong traction, so competitiveness depends on pairing straight-line speed with efficient aerodynamic load through technical passages. From a tyre perspective, the track loads both axles: the fast corners of the first sector stress the front tyres, while the acceleration zones out of slow corners in the third sector generate thermal degradation primarily at the rear.

The asphalt is not especially abrasive, and a section between Turns 9 and 11 was resurfaced earlier this year, though ageing across the remainder of the circuit contributes to significant wear. Tyre wear rather than graining could therefore prove decisive, as several tyres reached very high wear values at last year's event. Strategically, the C2 Hard could favour long stints in what is likely a one-stop race, though typically high Texan temperatures may increase degradation and open alternative approaches. Medium-Soft was last year's most popular strategy, used by 13 drivers, with Charles Leclerc the lone podium finisher to start on Softs.

Austin has hosted the United States Grand Prix 13 times, though the event's total history spans 46 editions across six circuits; Lewis Hamilton leads with six victories, one shy of Michael Schumacher's record, and Ferrari holds the constructors' mark with 11 wins. The Porsche Carrera Cup North America season, supplied by Pirelli for the first time, concludes at COTA during the Grand Prix weekend, with Tyler Maxson leading the Mobil Pro standings by 27 points after Road Atlanta, though Aaron Jeansonne remains in contention with two races and bonus points available. Pirelli Design has also created a special podium cap by designer Denis Dekovic, featuring a star pattern inspired by the American flag alongside cacti and rattlesnakes as Texan desert symbols.

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