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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Pirelli prepares to take centre stage at its home race, the Formula 1 Pirelli Gran Premio d’Italia 2026, which marks the 77th edition of the historic event. The upcoming weekend at the Monza circuit is highly anticipated, driven by the fervent passion of the Italian tifosi and the venue’s deep-rooted legacy within motorsport. As the title sponsor, the Italian tyre manufacturer is set to celebrate its longstanding relationship with the Temple of Speed through a series of artistic and ceremonial initiatives.

The company’s bond with Monza transcends mere geographical proximity between its headquarters and the autodrome, being historically cemented by numerous victories on Pirelli rubber. A landmark triumph occurred on the circuit’s opening day in September 1922, when Pietro Bordino won the Grand Prix driving a Fiat 804. This year’s race will be commemorated with a unique trophy designed by the Italian artistic duo vedovamazzei, which will be presented to the top three finishers on Sunday, alongside special edition podium caps.

The trophy, named FRAGILE, is conceived as a layered composition of everyday household objects such as cups and bowls, stacked into a visually unsteady vertical form. The artists, Stella Scala and Simeone Crispino, drew inspiration from the ancient tradition of passing a communal drinking vessel to foster a sense of shared festivity. Their creation symbolises a victory that is held by an individual yet reflects the spirit of the broader community, including the team and fans, while also acknowledging the ephemeral nature of success.

The artistic process involved a blend of traditional sketching and advanced three-dimensional printing using nylon powder, which was subsequently painted and polished to a reflective finish. This commission is part of an ongoing annual project by Pirelli in collaboration with the Pirelli HangarBicocca Museum, now in its sixth edition. Previous artists who have contributed to this project include Alice Ronchi, Patrick Tuttofuoco, Ruth Beraha, Andrea Sala and Nico Vascellari.

Complementing the trophy, Pirelli Design has produced a special podium cap for the Monza weekend, featuring the iconic Azzurro blue of Italian sport. The cap, designed by Denis Dekovic, is adorned with gold embroidery and laurel wreaths, with the word Monza on the visor and an Italia 2026 emblem on the side. This exclusive merchandise is available for purchase online, adding a commemorative element for fans.

From a sporting perspective, the three softest tyre compounds will be available, with strategic simulations suggesting that a one-stop race is probable despite the availability of overtaking opportunities. The 5.793-kilometre circuit, characterised by long straights and low-downforce set-ups, will challenge drivers with energy management and rear axle traction, especially at the First Chicane and Ascari. While braking stability is crucial, the recently resurfaced track and new kerb modifications at specific turns will influence performance. Historical records highlight that Michael Schumacher and Lewis Hamilton share the most victories, Ferrari leads the constructors' tally and Pierre Gasly secured a memorable maiden win here in 2020.

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Tyres Europe has released three summary reports detailing the findings of comprehensive Life Cycle Assessment studies focused on representative European tyre categories, including passenger-car, truck and bus, as well as retreaded and regrooved variants. The publications mark a significant effort to evaluate the environmental footprint of these products across their entire lifespan.

The assessments, executed by Sphera, utilised average industry data from multiple European manufacturers. The research framework examined environmental impacts spanning raw material extraction, production, logistics, usage and end-of-life disposal. Adherence to stringent international protocols, including ISO 14040 and ISO 14044, ensured methodological consistency, with an independent peer review further validating the conclusions.

For both passenger-car and truck tyre models, the operational phase emerged as the dominant factor in most impact categories, primarily due to fuel consumption linked to rolling resistance. Raw material processing constituted the second-largest burden. A notable finding revealed that a high-performance truck tyre exhibited an 8 to 27 percent reduction in environmental impacts relative to a medium-to-low-performance counterpart, attributed to superior rolling resistance and enhanced tread life.

The retreading analysis stressed that circularity must be balanced with use-phase efficiency, with findings based on scenario-driven break-even analyses due to limited measured data. The reports assert that tyre sustainability cannot be judged by a single metric, advocating a holistic view of materials, manufacturing, mileage, and rolling resistance. These insights aim to inform policy frameworks, including the Ecodesign for Sustainable Products Regulation and EU climate legislation.

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Sri Trang Agro-Industry Public Company Limited (STA) was among 16 industrial organisations recognised for climate action during a recent Bangkok seminar. The event, held on 18 August 2026 at the Thailand Institute of Justice, marked the conclusion of the ‘Project to Promote Greenhouse Gas Emission Target Setting for the Industrial Sector towards Net Zero using the Science Based Target Approach (Phase 3)’, organised by the Thailand Greenhouse Gas Management Organization and Thammasat University's Center of Excellence in Energy Efficiency.

STA participated in developing a Net Zero Pathway aligned with updated certification criteria. The sustainability team shared insights on embedding Net Zero objectives into operations, highlighting management and employee roles in advancing the environmental agenda. A formal certificate was presented to Dr Saranthinee Mongkolratthe, the company's Sustainability Division Manager.

STA targets a 23 percent reduction in Scope 1 and 2 emissions by 2030 from a 2024 baseline, aiming for Net Zero by 2050. Initiatives include energy efficiency improvements, renewable energy adoption and emission reduction plans across factory and group levels. Digital technology and artificial intelligence are deployed for carbon management, enabling performance monitoring and data analysis to support long-term decisions.

STA is also developing low-carbon natural rubber throughout its supply chain to meet global demand for sustainable products. The company's project involvement and recognition demonstrate its commitment to translating targets into action, positioning the business for low-carbon growth while contributing to Thailand's national sustainability objectives.

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Titan International is set to deliver a comprehensive experience for attendees at the 2026 Farm Progress Show, running from 1 to 3 September 2026. At Booth #24S, the company will showcase its extensive portfolio of off-highway tyres and tracks, offer exclusive savings opportunities and provide interactive tools designed to help farmers evaluate the financial benefits of its Low Sidewall Technology. The booth will also serve as a hub for meeting prominent agricultural personalities and supporting future farming leaders through a charitable initiative.

Visitors to the Titan booth can take advantage of a promotional offer providing USD 200 off a qualifying tyre purchase of USD 1,000 or more. Company representatives will be on-site to discuss eligible brands and products and to assist with the redemption process. Additionally, farmers are invited to use the interactive LSW Payback Calculator to assess the potential return on investment for their specific operations. Titan notes that in most scenarios, these tyres can pay for themselves in less than 18 months.

The booth will feature appearances by well-known figures from the agricultural and racing worlds. NASCAR driver and eighth-generation watermelon farmer Ross Chastain is scheduled to appear on Wednesday from 9 am to 12 pm, offering attendees a chance to see his racecar and discuss his farm's use of Titan and Goodyear tyres. Throughout the show, social media personalities will also be present, including the Welker Family and Cole the Cornstar, who will showcase their equipment and discuss their experiences with Titan products.

A highlight of the show will be the first-ever Farm Progress After Hours event on 2 September. Hosted in partnership with Van Wall Equipment and John Deere at Booth #24S, the evening will feature a concert by Iowa country artist Jason Brown and a pyrotechnic drone light show. The event is included with show admission and will commence after the exhibition booths close for the day.

Titan is reinforcing its commitment to rural communities through a tyre raffle benefiting Iowa FFA chapters. Attendees can purchase raffle tickets from FFA students at the booth for a chance to win a set of four tyres, with winners able to choose from Carlstar, Titan or ITP branded products. Proceeds from the raffle will be distributed to participating Iowa FFA chapters, supporting the next generation of agricultural leaders.

As a one-stop shop for off-highway wheel and tyre solutions, Titan will display products from its family of brands, including Goodyear Farm Tires, Carlstar and ITP. With over 40 product lines and 100 tyres on display, the booth aims to provide solutions for various equipment needs.

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