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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Dr Suttipong Angthong, Secretary-General of the Association of Natural Rubber Producing Countries (ANRPC), served as a panellist at the Economic Forum 2026, hosted by the Royal Thai Embassy in Kuala Lumpur on 25 September 2026 at the Imperial Lexis Hotel. The event, titled ‘Bridging the Two Borders: Elevating Thailand – Malaysia Resilient Value Chains in Halal and Rubber Industries’, gathered government agencies, industry players, chambers of commerce, academia and think-tanks from both nations. H.E. Ms. Lada Phumas, Thailand's Ambassador to Malaysia, delivered welcoming remarks, followed by opening remarks from YB Tuan Haji Akmal Nasrullah bin Mohd Nasir, Malaysia's Minister of Economy.

Dr Angthong participated in Panel Session 2, titled ‘Strategic Partnership in Action: Advancing Thailand–Malaysia Sustainable Rubber Value Chain’, moderated by the Centre for IMT-GT Subregional Cooperation. Fellow panellists represented the Industrial Estate Authority of Thailand, Thai Eastern Group Holdings PCL, the Northern Corridor Implementation Authority and the Malaysian Rubber Board. Discussions centred on upstream-downstream cooperation, border economic corridors, joint research and development, international standards compliance and safeguarding smallholders and grassroots stakeholders.

Dr Angthong outlined the natural rubber market landscape and challenges confronting ANRPC member nations, including sustainability and traceability demands in importing markets, price volatility and the imperative to increase value addition within producing countries.

“ANRPC welcomes cooperation among its member countries that supports a sustainable and resilient natural rubber sector. Regional dialogue of this kind helps members share experience on value addition, standards compliance and smallholder welfare. ANRPC will continue to support its members with statistics, market analysis and a platform for cooperation,” said Dr Angthong.

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Pirelli has confirmed the C2, C3 and C4 compounds as Hard, Medium and Soft for Formula 1’s return to Sepang International Circuit after a nine-year absence. The Malaysian venue replaces the Bahrain Grand Prix, which was not staged in April, and will test teams with machinery and tyres far removed from those used at the last race there in 2017.

Situated near Kuala Lumpur, the 5.543-kilometre circuit mixes long straights with high-speed corners, especially through the middle sector. Its medium energy demands place it in a severity range similar to Spa-Francorchamps and Shanghai, while ambient and track temperatures will make thermal degradation a central concern across the weekend.

Pirelli’s slightly more aggressive selection, compared with a more conservative harder trio, aims to broaden strategic options and narrow the gap between one-stop and two-stop approaches. Sepang’s abrasive surface is comparable in roughness to Bahrain, although grip is expected to be low on Friday before improving as the track evolves. Managing heat across both axles will be a principal difficulty.

The circuit has been modified in recent years, including resurfacing between Turns 6 and 12 in 2023 and further work around Turn 9. Additional levelling began in early September to remove asphalt irregularities, alongside cleaning to improve conditions. Pirelli engineers recently found the surface’s overall characteristics still closely matched those recorded in 2017.

Teams face a shortage of relevant data for the current car generation, making Friday practice unusually important for drivers familiarising themselves with a track many know only from simulators and for teams assessing balance and tyre behaviour. Afternoon thunderstorms, intense heat and high humidity could add further complexity, while Sepang hosts its 20th Grand Prix and remains a venue where Sebastian Vettel leads with four wins, Ferrari tops teams with seven and Michael Schumacher and Lewis Hamilton share the pole record.

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The Association of Natural Rubber Producing Countries (ANRPC) participated in CSCAP 2026, a regional forum on Accelerating Sustainable Consumption and Production for Climate Justice and Value Chain Resilience in Asia-Pacific. The event took place on 23–24 September 2026 at the United Nations Conference Centre in Bangkok, Thailand. ANRPC was represented by Secretary-General Dr Suttipong Angthong upon the organisers' invitation.

The two-day forum was organised by AFMA, FeedUP@UN, Sustainism and the Rubber Authority of Thailand (RAOT). It gathered policymakers, industry leaders, smallholder cooperatives, civil society organisations, climate scientists and development practitioners from across Asia-Pacific. Discussions centred on SDG 12, SDG 13 and SDG 15, emphasising links between high-level policy and practical implementation in natural rubber, coconut and sugarcane sectors.

Rubber figured heavily in the discussions. On day one, a high-level panel examined sustainable rubber and derivatives, traceability and deforestation-free supply chains, weighing how producing countries handle the EU Deforestation Regulation, cross-border compliance and national biodiversity frameworks from farm to tyre. Later sessions explored affordable monitoring, reporting and verification tools for smallholders, sustainability-linked finance and a rights-based approach to climate justice.

Dr Angthong shared ANRPC's perspective on conditions in producing countries, where smallholders account for the vast majority of global output. He emphasised that sustainability requirements must be paired with practical support, fair pricing and affordable traceability solutions. This, he argued, would ensure smallholders are not shut out of sustainable markets but instead benefit from the transition.

Dr Angthong said, “Natural rubber is the livelihood of millions of smallholder families across our member countries. The shift towards deforestation-free, low-carbon supply chains is an opportunity for our sector – but only if it is inclusive. CSCAP 2026 provided a valuable platform for producers, buyers, regulators and financiers to work together on solutions that are credible, affordable and fair to farmers. ANRPC will continue to serve as the voice of producing countries in shaping these solutions.”

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Pirelli & C. S.p.A. (Pirelli) and ABET High Tech Solutions S.r.l. (ABET HTS) were formally notified on 28 September 2026 of a Prime Ministerial Decree approved on 24 September 2026. The measure followed a Golden Power Procedure initiated by the Prime Minister’s Office after the two companies submitted a joint notification concerning their defence-sector activities and related plans.

Central to that notification was a co-development agreement announced on 5 August 2026. The arrangement covers joint technological work on remote-controlled electric ground vehicles intended for rescue operations in particularly difficult and extreme environments and on challenging surfaces.

The decree identified as strategically significant for Italy’s defence system, under Article 1 of Legislative Decree No. 21 of 2012, both the defence-related work of Pirelli and ABET HTS and the co-development agreement itself. Consequently, the Cabinet exercised special powers over the matter.

Acting on maximum precaution and to safeguard fundamental national defence and security interests, the decree imposed techno-organisational measures on both firms. These are designed to protect industrial property rights, know-how, products and related data of strategic value while ensuring continuity and standards in their research and development activities in the sector, both current and future. Pirelli and ABET HTS received the decision favourably.

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