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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MAXAM Tire has launched the MSV01 PRO, a versatile crane tyre engineered for demanding dual-environment use, merging highway efficiency with off-road resilience. Its robust TBR-style casing and closed-shoulder tread configuration are central to its extended service life and stable handling across diverse terrains. Certified with an F-Speed rating for travel up to 50 mph (80 kmph), the tyre ensures safe and confident transit between job sites.

The meticulously engineered tread pattern significantly dampens road noise and vibration, directly improving operator comfort during extended transport. On paved surfaces, the design enhances fuel efficiency and steering responsiveness, while the deep, aggressive lug pattern ensures formidable grip in soft, muddy or wet off-road conditions.

This product underscores MAXAM’s dedicated investment in innovative tyre solutions that directly address the critical needs of industries dependent on unimpeded equipment mobility and sustained productivity, offering a single-tyre solution that eliminates compromises between on-road speed and off-road traction.

Jimmy McDonnel, VP – Sales and Marketing, MAXAM Tire, said, “With the MSV01, we’re expanding our commitment to deliver purpose-built solutions for specialty equipment. This tyre was engineered based on direct feedback from crane operators and fleet owners who needed more reliability both on the highway and in off-the-road environments. The MSV01 delivers the comfort, stability and traction performance that today’s demanding job sites require while reducing downtime and improving operational efficiency.”

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The Association of Natural Rubber Producing Countries (ANRPC) hosted a significant courtesy visit from Stefano Safi, CEO of the Global Platform for Sustainable Natural Rubber (GPSNR), on 4 February 2026. The meeting, held at the ANRPC Secretariat in Kuala Lumpur, featured substantial discussions with Secretary-General Dr Suttipong Angthong and his team.

Central to the dialogue were the crucial themes of sustainable production and pricing mechanisms, alongside an analysis of recent market impacts on the industry. Both parties affirmed the necessity of collaborative action to address sectoral challenges and committed to a shared path for promoting sustainable growth in the face of evolving market dynamics, ultimately striving towards a more environmentally responsible future for natural rubber.

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City of Moreton Bay has been recognised for a groundbreaking road resurfacing programme that sets a new sustainability benchmark for Queensland. In partnership with infrastructure firm Fulton Hogan, the council spearheaded a research and development project to create a durable asphalt solution specifically designed for subtropical climates.

This innovative approach involved trialling a mix incorporating crumb rubber binder with up to 30 percent recycled asphalt pavement. The highly sustainable formula was also produced as a warm mix asphalt, requiring lower production temperatures than conventional methods. Extensive field testing on local roads confirmed the mix's functionality and durability, establishing a viable future-ready surfacing solution for local governments.

The environmental benefits of the 2024/25 programme were substantial. Across 82 streets, the project utilised 7,838 tonnes of recycled asphalt and repurposed the equivalent of 28,748 end-of-life passenger tyres into the road network. This concerted effort resulted in an estimated carbon emission saving exceeding 556,000 kilogrammes.

The Australian Flexible Pavement Association subsequently honoured the project as the Queensland state winner in the ‘Outstanding project less than $10m’ category. This initiative aligns with the City of Moreton Bay’s broader environmental strategy, which includes a target of achieving net zero emissions for council operations by 2039 and reducing the city's overall carbon footprint.

The council views such partnerships as a practical demonstration of its ‘Going Green as We Grow’ commitment, aimed at maintaining materials in circulation to reduce waste. Recognising local roads as one of its largest infrastructure assets, the city continues to actively encourage all resurfacing contractors to pursue innovative and environmentally sustainable solutions. This road programme complements other ongoing green infrastructure projects within the region focused on enhancing safety for both motorists and wildlife.

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Nexion Group has inaugurated a state-of-the-art, sustainable logistics hub in Prato di Correggio, Italy. This facility, serving the Group's portfolio of brands including Corghi, HPA-Faip, Mondolfo Ferro, Teco, Sice, Autopstenhoj, Sherpa and Bright, is a strategic investment designed to support future growth and market demands through advanced automation and artificial intelligence.

The hub is a highly automated, fully digitalised operation that functions around the clock. Its core is a high-capacity vertical warehouse, utilising over 2.2 kilometres of racking systems that reach 11.7 metres in height across seven levels. This design, spanning a total of 22,000 square metres and offering 7,600 pallet positions, maximises vertical space to handle large volumes and a diverse product range. Logistics are managed by laser-guided vehicles and intelligent software algorithms, which optimise material flows, minimise errors and significantly reduce order fulfilment times. The entire process features automated identification and labelling systems, with real-time monitoring ensuring full traceability, operational accuracy and the reliable handling of complex or oversized items.

A cornerstone of the project is its commitment to environmental sustainability. The hub is equipped with a 1.1 MW photovoltaic system that fully meets the facility's energy needs and contributes substantially to the power requirements of the adjacent metal fabrication plant, thereby reducing the overall environmental impact of Nexion's operations.

This next-generation infrastructure enhances the Group's ability to provide fast, accurate and reliable service. By optimising warehousing and distribution, it strengthens Nexion's regional presence and underscores a firm commitment to integrating industrial development with technological innovation and environmental responsibility, paving the way for a more advanced and service-oriented logistics model.

Giulio Corghi, President, Nexion Group, said, “The new logistics hub in Prato di Correggio represents a concrete step in Nexion industrial evolution. We have invested in a sustainable, intelligent and highly automated facility designed to improve logistics service quality and strongly support the Group’s future growth while guaranteeing the highest safety standards for our employees and playing an active role in the ecological transition.”

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