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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Scandinavian Enviro Systems AB (publ) has disputed a request from Infiniteria Sweden AB and Infiniteria Europe Sàrl to terminate the company’s ongoing reorganisation. In a statement submitted to the Gothenburg District Court on 22 April, Enviro argued no grounds exist to end the process, originally approved on 27 February 2026. A creditors’ meeting on 18 March saw no opposition to the reorganisation continuing.

The dispute stems from Enviro’s decision to terminate the joint venture agreements with Infiniteria under Swedish law, calling them burdensome and loss‑making. Infiniteria filed a termination request on 15 April, which Enviro answered on 22 April. Enviro disputes the request and several supporting claims.

Enviro states the joint venture caused its financial difficulties, while its business plan shows opportunities to build a profitable enterprise using its patented technology. Infiniteria has asserted a preliminary damages claim of approximately EUR 84 million, but Enviro notes the claim is unsubstantiated and partially overlaps with ongoing arbitration announced on 6 February.

Enviro points to contractual liability caps, including EUR 3 million in the marketing and agency agreement and EUR 2 million in the license agreement. Infiniteria has not shown why these caps should not apply. Regarding the license agreement under English law, Enviro maintains termination was lawful, meaning Infiniteria’s exclusive right to Enviro’s technology has ceased.

Despite the legal conflict, Enviro reports strong global interest. A North American feasibility study is progressing faster than expected, and licensing dialogues are ongoing with around 10 stakeholders. Enviro remains determined to build long‑term value without the former joint venture’s constraints.

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Hankook Tire has released a new brand film titled ‘Formula E Rewind’, inspired by the ABB FIA Formula E World Championship. The company serves as the exclusive tyre supplier for the global all-electric racing series, which is organised by the Fédération Internationale de l’Automobile. The latest cinematic work follows a previous Formula E brand film introduced in April last year.

That earlier production focused on Hankook’s advanced motorsports technologies and research supported by cutting-edge infrastructure. Its high production quality earned a Silver Prize in Sound Design at the Seoul Video Advertising Festival 2025, one of South Korea’s largest advertising awards. The newly unveiled film employs a distinctive rewind visual technique, shifting attention from racing outcomes back to the origin of technology. It emphasises that every race starts with the tyre while promoting the innovative ‘iON’ brand, the world’s first full lineup of electric vehicle tyres.

The film dynamically showcases the next-generation electric racing machine GEN3 Evo, which reaches 322 kilometres per hour and accelerates from zero to 100 kilometres per hour in just 1.86 seconds. It also features the official electric racing tyre ‘iON Race’, delivering a powerful sense of speed. By reconstructing race sequences in reverse, the video creates a fresh narrative that boosts viewer immersion. The slogan ‘Where it all begins’ and a composite logo reinforce Hankook’s positioning as a key Formula E partner.

The brand film will be distributed across Hankook’s owned media platforms, including its global website, YouTube and Instagram, aiming to engage motorsports fans, EV users and future mobility consumers.

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Solvay has significantly expanded a global framework agreement with IMI, accelerating the installation of connected industrial sensors throughout its worldwide manufacturing network. Under the extended partnership, IMI remains Solvay’s preferred supplier, with over 5,000 sensors already deployed across 25 sites in 11 countries. The ongoing rollout is enhancing operational reliability and efficiency while simultaneously lowering costs and reducing the company’s environmental impact.

The connected devices, classified as Industrial Internet of Things sensors, continuously monitor vibration and temperature on critical machinery. This real‑time data allows Solvay teams to track asset performance, prevent unexpected breakdowns, and schedule maintenance precisely when needed. The group intends to expand the sensor network to 9,000 units by 2027, reinforcing its shift from traditional time‑based maintenance to a predictive, data‑driven approach.

This sensor initiative is central to Solvay’s Essential for Generations strategy, which prioritizes operational excellence and sustainability. By leveraging real‑time information, the company predicts equipment failures, cuts repair expenses, and limits energy losses and waste. Having scaled from just a few hundred sensors in 2023 to more than 5,000 installed globally, Solvay is building a more resilient and reliable industrial footprint across all regions.

Lanny Duvall, Chief Operations Officer at Solvay, said “Digitalisation is reshaping the way we run our plants. Expanding the use of connected sensors helps us make quicker and better-informed decisions that improve safety, reliability and energy efficiency – while also making our operations more competitive and cost‑effective. It’s a concrete accelerator of the operational excellence transformation we’re driving across Solvay as part of our Essential for Generations strategy.”

Diana Garcia, Global Business Development Manager, Digital Products at IMI, said, “The complexity of modern plant operations, coupled with constant pressure on margins, means the chemical industry cannot rely on manual inspections to ensure maintenance operations are efficient and effective. Our technology provides real‑time insights that support Solvay’s move towards predictive maintenance. We are pleased to deepen this successful collaboration.”

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Nexen Tire America has detailed how original equipment tyre development has shifted from a standalone process to an integrated engineering effort conducted alongside new vehicle design. The company explains that modern vehicle complexity, driven by electrification and advanced driver systems, requires tyre engineering to begin in parallel with suspension, chassis and electronic control development. This earlier collaboration allows tyre performance to be optimised for hybrid and electric vehicle demands such as noise reduction, load capacity and rolling resistance.

Aaron Neumann, Head of the Nexen Tire America Technical Center, describes how suppliers must now adopt faster development cycles and deeper technical collaboration. The traditional model of selecting off-the-shelf tyres has been replaced by purpose-built designs tuned to specific safety, handling and efficiency targets. Electric vehicles have added further criteria including range optimisation and tyre noise mitigation.

To manage these demands, Nexen has expanded its use of simulation and modelling technologies. Finite element analysis and data-driven tyre modelling allow engineers to evaluate performance early in the development cycle, reducing the number of physical prototypes required. Despite this digital focus, physical testing remains extensive and includes laboratory procedures such as high-speed endurance, rolling resistance, uniformity, noise and flat-spotting assessments.

On-road validation involves instrumented traction and braking tests, ride and handling evaluations, treadwear analysis and durability testing across varied surfaces and climates. Each tyre’s tread pattern, construction, footprint and profile are refined through iterative testing specific to the target vehicle. While some materials overlap with replacement tyres, original equipment fitments are engineered to balance performance, efficiency and comfort.

Over the past decade, Nexen Tire has more than doubled its original equipment portfolio in North America. This growth is attributed to an engineer-to-engineer collaboration model emphasising transparency and responsiveness. Many technologies developed for original equipment programmes, including advanced compounds and tread designs, are later incorporated into replacement tyres.

For consumers, these behind-the-scenes engineering efforts result in tyres more precisely matched to vehicle performance. Neumann notes that modern tyres rank among the most complex vehicle components, having to deliver safety, efficiency and comfort simultaneously across a wide range of conditions, even if that complexity remains largely invisible to drivers.

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