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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Linglong Tire convened 120 European dealers in Milan from 10 to 13 October for its European Partner Conference, where CEO Lingkun ‘Andy’ Zhou and Vice President Yongchao ‘Aaron’ Xu outlined the company's latest developments, fiscal performance and future strategy. Zhou noted that despite a difficult and volatile market, Linglong achieved sales growth in the first half of 2026, crediting close cooperation with its European distribution partners.

Global Marketing head Kai You introduced the upcoming ‘Linglong Hub’ dealer programme, which offers quantity-based unit bonuses and tailored marketing packages such as POS materials to support in-shop sales. Andreas Krause, Head of Research and Development in Europe, presented forthcoming products from the Linglong, Crosswind and Leao brands, available from spring 2027, including the all-season Dura Master Van 4S and Leao Nova Force Van 4S for vans and campers, alongside the flagship UHP Linglong Sport Master 2.

Guests then travelled to Villongo, northeast of Milan, for the official opening of Western Europe's first Linglong Tire Center, inaugurated by Zhou together with Sebino Pneus owner Gigi Pezzotta and Fintyre Sales Director Renato Paghera. The fully branded facility is seen as a benchmark for further centres planned across Italy and Europe. The day continued at the Alfa Romeo Museum, a Stellantis brand and key original equipment customer, ending with a gala dinner featuring live Italian music.

The following day, dealers tested the Sport Master 2 at the Balocco test site near Milan, a 550-hectare facility with over 80 km of track, using various Mercedes-Benz and AMG models before a race taxi ride with a professional driver. The event closed with dinner and a dance and music show at El Porteno, setting the stage for the 2027 conference in London.

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Infiniteria Europe and Aliapur, a French State-approved eco-organisation, have signed a Memorandum of Understanding to pursue an agreement for supplying end-of-life tyres to two planned Infiniteria recycling plants in France. The MoU outlines intentions for a long-term supply arrangement in which Aliapur would furnish the end-of-life tyres needed to operate both facilities.

The agreement creates a framework for a secure, reliable and sustainable long-term supply chain and provides a foundation for continued development of both projects. Shortlisted sites are being assessed, with environmental impact studies under way. The partnership marks a significant milestone for the projects and reflects both companies’ shared commitment to recovering valuable secondary raw materials from end-of-life tyres, developing more circular industrial value chains and increasing tyre recycling capacity in France.

The collaboration combines Aliapur’s material recovery experience with Infiniteria Europe’s recycling solution development expertise. Both companies aim to build a strong long-term partnership supporting tyre recovery and recycling in France, and they look forward to further strengthening their collaboration as the projects advance through subsequent development stages.

Kajsa Ryttberg-Wallgren, CEO, Infiniteria Europe, said, “This MoU brings our two planned plants in France one step closer to realisation. They will form an important part of our broader ambition to build Europe’s leading business in circular tyre recycling, transforming end-of-life tyres into valuable resources for new uses.”

Mathieu Chardin, Managing Director, Aliapur, said, “Aliapur is proud to have been selected by Infiniteria Europe, an industrial company with proven expertise in tyre pyrolysis technology, as a strategic partner for the supply of raw materials to its future plants in France. This partnership also supports our commitment to France’s reindustrialisation and ecological transition, two priorities at the heart of the Government’s strategy for a more resilient, competitive and sustainable industry.”

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ETRTO held its 62nd General Assembly on 2 October in Nantes, France, drawing strong attendance from Full members and Experts, alongside the TNPF (Travaux de Normalisation des Pneumatiques pour la France) team, UNECE GRBP Chairman, a JATMA delegation and several Honorary members.

The Assembly approved a name change from European Tyre and Rim Technical Organisation to European Tyre, Rim & Valve Technical Organisation while retaining the ETRTO acronym. It also endorsed all 80 Technical Subcommittee resolutions, set for inclusion in the 2027 Standards Manual and Engineering Design Information publications, and amendments to ETRTO Recommendations, due for free publication on the ETRTO website in five languages.

Christian Lerner (Continental) and Peter Roest (Apollo) were elected President and Vice President, respectively, for 2027. Presentations covered UNECE GRBP tyre regulatory trends and TNPF’s role in the French regulatory landscape, while Technical Subcommittee chairmen outlined activity highlights and future trends. ETRTO also demonstrated its new Data Portal, available for the Passenger Car tyre section from early 2027.

Appreciation was extended to Jérôme Barrand (Michelin, current ETRTO President) for organising the Assembly and to TNPF for hosting the Gala Dinner. The 63rd ETRTO General Assembly is scheduled for 1 October 2027.

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Sri Trang Group has been recognised by the Securities and Exchange Commission (SEC) for its efforts to promote financial and investment literacy among employees. Pacharin Anuwongwattanachai, Company Secretary of Sri Trang Agro-Industry Public Company Limited (STA), and Thanawan Sa-ngiamsak, Chief Financial Officer of Sri Trang Gloves (Thailand) Public Company Limited (STGT), accepted the ‘Organization Promoting Financial and Investment Literacy for Employees’ certificates on behalf of their respective companies. The ceremony, held under the SEC's Financial Well-being in Workplace project, took place at the Royal Thai Army Club on Vibhavadi Rangsit Road in Bangkok on 9 October 2026.

The SEC accolade underscores Sri Trang Group's dedication to sustainable business practices, especially the social pillar of sustainability that prioritises comprehensive care for employees' quality of life and well-being. STA advances financial, investment and savings literacy through structured and ongoing financial education programmes. All eight categories of the SEC's online financial and investment lessons have been integrated into the companies' self-learning platforms, allowing staff to build skills independently. Training sessions with SEC experts cover financial and investment planning for salaried employees as well as retirement planning for those aged 50 and above and investment planning tailored to individual needs.

Disciplined saving is further encouraged through income and expense tracking, financial health check-ups and discussion groups in which employees exchange insights on managing provident fund investments with expert guidance. These measures help staff strengthen financial security, ease financial worries and sustainably improve the quality of life for themselves and their families. The approach reflects the Group's care for its people alongside its commitment to good corporate governance, aligning with annual reporting disclosures and the corporate governance assessment criteria for Thai listed companies.

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