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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Kumho Tire USA continues to strengthen its position as a major supplier to automakers worldwide, now providing original equipment tyres to over 40 vehicle platforms across nine brands in North America, including Nissan, Hyundai, Kia, Audi and Volkswagen. The expansion reflects growing confidence among manufacturers in the company's engineering and product quality.

The tyre maker was recently chosen as the exclusive OE supplier for Hyundai IONIQ 5 vehicles joining Waymo's next-generation robotaxi fleet in the United States. Such autonomous fleets require tyres that maintain consistent performance across thousands of miles of continuous use, with durability, efficiency and ride comfort proving essential. The Crugen EV HP71 was developed to meet both the demands of high-utilisation fleets and the specific requirements of electric vehicles.

Kumho also secured OE supply deals for select Nissan Rogue and Frontier models sold across North America, extending its longstanding relationship with the automaker. The Rogue will carry the Crugen HP71 all-season touring tyre, while the Frontier will be fitted with the new Road Venture HT all-season highway-terrain tyre, strengthening Kumho's foothold in the SUV and pickup segments.

The Crugen HP71 offers quiet, comfortable driving with year-round capability for CUV and SUV owners, using wide circumferential grooves and micro-serration technology for wet traction and hydroplaning resistance. Its EV variant accommodates heavier electric vehicles, reduces rolling resistance, handles instant torque and incorporates K-Silent sound-absorbing foam. The Road Venture HT, built for pickups and SUVs, delivers improved wet and snow traction and a 10 percent tread-life gain over its predecessor, along with Three-Peak Mountain Snowflake certification.

Shawn Denlein, President – Sales and Marketing, Kumho Tire USA, said, “We are excited to continue strengthening our OE partnerships through new fitments with both Nissan and Hyundai. The Crugen HP71 and its EV counterpart, along with the Road Venture HT, were engineered to deliver reliable, consistent performance for SUV and pick-up drivers. These selections reflect the confidence both Nissan and Hyundai place in KUMHO's engineering and manufacturing expertise.”

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Continental has introduced a Collector's Edition of its Grand Prix 5000 S TR road tyre, a benchmark product developed alongside Tadej Pogačar, the multiple World Champion and Tour de France winner. The limited release sits within the company's ‘Share the Road’ campaign, which seeks to advance road safety, mutual respect and harmonious coexistence among all road users while delivering top-tier performance.

At the heart of the effort is ‘Pogi’, a figure the brand and Pogačar devised together. Appearing across a set of animated stories, the character conveys the central idea that the roads belong to everyone. Each limited-edition tyre package also includes a physical Pogi collectible, extending the character beyond the screen.

The 30-622 tyre carries custom Pogačar branding, including a dedicated Pogi logo and hundreds of miniature Tadej Pogačar logos worked subtly into the Grand Prix 5000 S TR lettering. It retains Continental's benchmark technologies – the BlackChili Compound, Vectran Breaker, Active Comfort Technology and Lazer Grip – and is aimed at both cycling enthusiasts and collectors.

Hannah Ferle, Road Product Manager, Continental Tires, said, “The trust placed in us by world-class athletes like Tadej is both an honour and an incentive. With the Grand Prix 5000 S TR Pogačar Edition, we wanted to bring together our race-proven road performance with a meaningful initiative. Every tyre is crafted with precision to deliver the optimal balance of speed, grip and reliability while celebrating our shared commitment to making roads safer for every rider.”

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DUNLOP has become the first-ever Presenting Partner of the Goodwood Revival, cementing its place in the event’s history after an exceptionally successful partnership at this year’s festival. The three-day event, held from 18 to 20 September, attracted 150,000 attendees from 172 countries and marked the iconic tyre manufacturer’s most prominent presence at the circuit in nearly eight decades.

The Revival provided DUNLOP with an unparalleled platform to celebrate its rich motorsport legacy and connect with a global audience of enthusiasts, collectors and industry professionals. Its presence represented a significant milestone, returning the brand to the Goodwood Motor Circuit nearly 80 years after it first supported the venue’s opening in 1948. The comprehensive activation featured a 600-square-metre exhibition stand, VIP hospitality adjacent to the pit lane and prominent event and circuit branding throughout the weekend.

At the DUNLOP stand in the Revival’s Earls Court motor show, around 25,000 visitors experienced the brand first-hand across all three days, drawn by a trio of Ford GT MkIIs that dominated the podium at the 24 Hours of Le Mans in 1966. Attendees engaged directly with DUNLOP’s heritage, innovation and commitment to motorsport excellence, while the event’s international turnout underscored the universal appeal of the brand’s story and its enduring position within global motorsport culture. The response from visitors was overwhelming, with the activation highlighting DUNLOP’s history and racing legacy in a unique way.

The inaugural year as Presenting Partner has established a blueprint for future collaboration, resonating with an audience that values heritage, authenticity and engineering excellence. As DUNLOP strengthens its position within global motorsport, the Goodwood Revival partnership stands as a cornerstone activation, celebrating the brand’s legendary status while positioning it as an innovator for the future.

Dennis Wilstermann, Marketing Manager, DUNLOP, said, “Our stand was consistently busy throughout the three days. The level of interest in the DUNLOP brand was remarkable, and the conversations we had with customers, fans and partners were genuinely positive. We are already looking forward to returning to Goodwood Revival in 2027. We cannot wait to return to the Goodwood Revival in 2027. This year has been a powerful reminder of why Goodwood Revival matters to DUNLOP – and why DUNLOP matters to Goodwood Revival."

Hiroshi Hamada, Manging Director, Chairman and CEO, Dunlop Tyre Europe GmbH, said, “This was our first year at Goodwood Revival as Presenting Partner, and it was an unqualified success for us. DUNLOP returning to Goodwood with such a strong presence after so many years is a story in itself – one that validates our commitment to motorsport heritage and innovation.”

The Duke of Richmond CBE DL said, “We were delighted to welcome DUNLOP as presenting partner of Goodwood Revival this year. Having been an integral part of racing here for almost 80 years, the partnership reflects a shared heritage stretching back to 1948, when it was among the original supporters of the Goodwood Motor Circuit. From DUNLOP’s hugely popular stand in Earl's Court, featuring the Ford GT MkIIs that famously finished 1-2-3 at Le Mans in 1966, to its presentation of Sunday's flagship Royal Automobile Club TT Celebration race, the partnership was a fitting celebration of our shared history and passion for motorsport. We look forward to continuing that relationship in the years to come.”

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Bekaert has marked a significant sustainability milestone with the commissioning of its first solar energy project in Latin America. The installation at the Proalco Malambo facility in Barranquilla, Colombia, features 1,986 rooftop panels now generating renewable electricity on site, translating the company's sustainability strategy into concrete local action.

The Malambo plant produces a diverse range of steel wire products for agriculture, construction, upholstery, energy, utilities and general industrial applications and employs nearly 200 people. With an installed capacity of 1,291 kWp, the solar array is projected to generate roughly 1.87 gigawatt-hours of renewable electricity each year, meeting a quarter of the facility's power needs. The company estimates this will cut carbon dioxide emissions by 117 tonnes annually, supporting its broader goal of reducing its environmental footprint and advancing the low-carbon transition.

Beyond environmental gains, the project tackles practical energy concerns. The site previously relied entirely on external electricity amid rising costs and mounting grid pressure. On-site generation now enhances cost efficiency and operational resilience by limiting exposure to price volatility and potential supply interruptions. The initiative also aligns with Colombia's national sustainability objectives by promoting non-conventional renewable sources, while the use of local suppliers and contractors bolsters the regional economy and community.

The Colombian project extends Bekaert's wider track record of renewable investments, following solar deployments in Europe and Asia and ongoing expansion through on-site generation and long-term energy agreements. Expansion in the region is already planned, with a second phase envisioned at the Muña plant in Bogotá.

Fernando Montes, General Manager Proalco, said, “This project represents a major step forward in our commitment to sustainability. As the largest investment project at our site, it reflects a high level of ambition and was delivered safely over one year. It will make a meaningful difference by reducing emissions, lowering energy costs and strengthening the reliability of our operations.”

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