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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Tegeta Green Planet, in collaboration with Shine Energy, recently conducted an educational initiative at Gergeti School for students in grades 8 through 10. The session was designed to foster awareness about sustainable development among the younger generation.

The programme, titled ‘A Sustainable Future: Environment, Transport and Energy’, centred on the impact of daily human activities on the planet. Discussions emphasised the critical need for proper waste segregation, resource conservation and the adoption of renewable energy sources to mitigate environmental degradation.

A significant portion of the event focused on the hazardous nature of waste tyres, used oils and batteries. Students were informed about the severe consequences of improper disposal, including contamination of natural resources, and were shown how recycling can recover valuable materials. The concept of Extended Producer Responsibility was also introduced, highlighting the legal and ethical duties of manufacturers and importers to manage their products' lifecycle. Tegeta Green Planet’s role in assisting companies with these obligations was a key point of the presentation.

The interactive session encouraged active participation through group discussions and practical exercises. Students collaborated to solve environmental challenges, reinforcing their learning through real-world applications. All attendees received certificates and gifts at the conclusion of the event. This visit is part of a broader, ongoing effort by both organisations to promote responsible consumption and environmental stewardship in educational settings, aiming to empower students to make informed, sustainable choices in their everyday lives.

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Sri Trang Agro-Industry Public Company Limited (STA), the world's largest fully integrated natural rubber enterprise and a leading Thai rubber glove manufacturer, has announced a significant strategic diversification through its subsidiary, Sri Trang Rubber and Plantation Company Limited. The new initiative, named the ‘Sri Trang Palm Growing a Sustainable Future’ project, represents a major step in bolstering the group's long-term business resilience and expanding its operational portfolio.

The project entails a substantial investment exceeding THB 60 million (approximately USD 1.80 million) to pilot oil palm cultivation across a total of 1,461 rai of land, which will accommodate approximately 28,072 trees. These planting areas are strategically located across five key provinces, including Chonburi, Rayong, Sa Kaeo, Surat Thani and Songkhla. The group is implementing its Asset Optimisation strategy, integrating modern agricultural technologies and adhering to its core ESG principles to guide the project's development, with the first harvest anticipated to commence by 2029.

This foray into the palm oil sector is designed to strengthen the Sri Trang Group’s overall business capabilities and enhance portfolio resilience, laying a robust foundation for sustainable long-term expansion. The initiative seeks to maximise the use of existing resources and operational networks while capitalising on new business opportunities, all while maintaining a strong commitment to community, social and environmental responsibility.

A formal kick-off event was held on 19 June 2026, in Sadao District, Songkhla Province, to mark the project's official commencement. The ceremony saw the active participation of company executives and employees, who together planted the first palm tree, symbolising the group's dedication to building a sustainable new venture and generating lasting value for both society and the environment.

Veerasith Sinchareonkul, Chief Executive Officer, Sri Trang Agro-Industry Public Company Limited, said, “The ‘Sri Trang Palm Growing a Sustainable Future’ project reflects the Group’s commitment to leveraging organisational potential and optimising the use of the Group’s resources, based on the Asset Optimisation concept. This involves developing the Group’s land to create long-term added value while growing responsibly alongside our communities and creating lasting value for society and the environment. For Sri Trang, this project is not just about expanding into a new cash crop but a significant step in creating shared value for all sectors. It promotes employment, creates jobs, supports the local economy and lays the foundation for stable and sustainable growth in the future. The palm trees planted through this initiative symbolise the Group’s intention to grow alongside the community and pass on a sustainable future to society in the long term.”

Udom Pruksanusak, Chief Executive Officer (Plantation), Sri Trang Rubber & Plantation Company Limited, said, “Sri Trang prioritises a systematic approach to developing its palm oil business, from site selection and the use of quality seedlings to plantation planning and modern agricultural management. In the first phase of planting, the largest proportion of the initial investment has been allocated to Songkhla Province, accounting for 43 percent of the total planting area, as it is suitable in terms of climate conditions, rainfall patterns, infrastructure readiness and connection to the Group's operational and logistics network, which will help maximise the efficiency of plantation management.

“In addition, the project operates under the ESG principles, focusing on sustainable land management, soil and water conservation and the application of technology and innovation, such as geographic information system (GIS), drone technology for agricultural operations, digital field monitoring systems and data-driven decision-making, to maximise operational efficiency, reduce environmental impact and support the sustainable development of surrounding communities. The Group expects to begin commercial harvesting within approximately three years, or around 2029, and will closely monitor the growth trends of the palm trees, the productivity of the selected palm varieties and the overall performance in order to consider development guidelines and opportunities for further expansion of planting areas.”

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Maxion Wheels has graduated the first Indian cohort of its Formare vocational education programme and launched a second intake, marking the expansion of the initiative into Asia.

The programme, introduced in India in 2024 through a partnership between the Iochpe Foundation of Brazil and Savitribai Phule Pune University (SPPU), combines classroom education with practical manufacturing training for students from underprivileged communities.

Twenty-six students enrolled in the inaugural cohort, with 23 completing the programme and receiving a diploma in Manufacturing Technology. Those who continue for a third year at SPPU will be eligible for a university graduation certificate.

According to Maxion Wheels, 87 percent of the graduates will begin their professional careers at the company's Pune operations.

"The graduation of our first Formare class in India is a proud and meaningful achievement, both for our students and for Maxion Wheels," said Sutheep Ratnabhas, President of Maxion Wheels' Asia Business Unit. "This programme reflects our belief that investing in education and skills development can transform lives while strengthening our communities and our business. We are especially encouraged and fortunate to see these young professionals beginning their careers with us."

The company also inaugurated the programme's second cohort, comprising 27 students, including six women, who account for 22 percent of the intake.

The ceremony at SPPU was attended by Mark Sinar, Vice President, Global Human Resources and Safety & Sustainability at Maxion Wheels, Rahul Vaidya, Managing Director of Kalyani Maxion Wheels, university representatives and the families of graduating and incoming students.

Graduates described the programme's impact on their personal and professional development.

"Formare has given me the confidence, skills, and opportunity to build a better future for myself and my family," said Aman Mulla. "I am proud to start my career with Maxion Wheels and excited for what lies ahead."

Abha Kamble said: "This programme opened doors I never thought possible. The combination of learning and hands-on experience has prepared us for real-world challenges."

Originally established by Brazil's Iochpe Foundation, the Formare programme has operated for more than three decades and has trained more than 28,000 young people. Maxion Wheels said it plans to introduce the programme in Türkiye later this year.

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Continental has transformed its European Roadshow into a long-term customer engagement platform, scheduled to traverse the continent through 2027. The initiative delivers the company’s newest commercial vehicle tyre technologies, trailer solutions and digital services directly to fleet operators. Following successful kick-off events in the Czech Republic and Denmark, the mobile tour is set to visit Norway and Finland, with further destinations to be announced.

This expanded programme underscores Continental’s strategic commitment to deepening customer ties through direct interaction. The initiative directly addresses critical fleet management concerns, including total cost of ownership, operational efficiency and the ongoing digitalisation of transport logistics. The company aims to position itself as a partner in solving real-world operational challenges.

Central to the roadshow is the Showtruck, a mobile consultation and demonstration hub that allows fleets to experience Continental’s portfolio within their local markets. Attendees navigate themed stations that link product innovations to practical fleet applications and everyday operational hurdles. A primary focus is the Generation 5 tyre portfolio, engineered for enhanced mileage, reduced rolling resistance and superior durability, alongside trailer tyre options and a preview of the upcoming Conti Efficient Pro HT 5.

The roadshow also highlights ContiConnect, a digital tyre monitoring system that supplies real-time data and actionable intelligence to support predictive maintenance and increase operational transparency. Traveling thousands of kilometres across Europe through 2027, the platform engages fleet operators, logistics firms, dealers and industry partners. By merging products, digital services and technical expertise, Continental reinforces its dedication to efficient, digitally connected transport solutions, with additional tour dates to be revealed.

Ivonne Bierwirth, Head of Marketing Communications – EMEA, Continental, said, "Fleet operators are under increasing pressure to improve efficiency, control operating costs and meet evolving industry requirements. The Roadshow allows us to engage directly with customers and demonstrate how our tyre technologies, digital solutions and expertise can help them address these challenges in their daily operations."

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