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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The JK Tyre - WIAA Women's Car Rally to Valley 2026 took off on 28 March from NSCI, Mumbai, with a flag-off ceremony led by Western India Automobile Association (WIAA) Chairman Nitin Dossa and JK Tyre officials. Over 200 women participated, decorating their vehicles around themes like cancer awareness, gender equality and women’s empowerment before driving towards the Novotel Imagicaa hotel in Khopoli.

Families and supporters gathered at the start, creating a festival-like mood as participants wore themed attire. The rally follows a Time-Speed-Distance format, rewarding precision and teamwork over speed, with contestants navigating hilly roads for about 125 kilometres to the finish.

Organised by the 107-year-old non-profit Western India Automobile Association, which advocates for safe mobility, road safety, environmental sustainability and policy change, the event has become a platform celebrating womanhood and resilience. This year’s edition reinforced the global road safety messages of #CommitToLife and #BeSafeBeStrong.

JK Tyre has long supported women in motorsport through dedicated initiatives, and its continued partnership with the WIAA Women’s Car Rally reflects a belief that motorsport can drive meaningful change both on and off the road.

Srinivasu Allaphan, Director – Sales & Marketing, JK Tyre & Industries, said, “For over a decade, we have been committed to encouraging women’s participation in motorsport, and the JK Tyre–WIAA Women’s Car Rally to Valley stands as a testament to that vision. Now a marquee event, the rally celebrates the spirit of motorsport while championing important social causes. We are encouraged by the strong enthusiasm of the participants as we continue to build greater awareness around road safety.”

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Scandinavian Enviro Systems AB (publ) has announced that its representatives on the Board of Directors of the joint venture entity, Infiniteria Europe Sàrl, namely Ewa Björling and Fredrik Aaben, have made the decision to vacate their respective director positions. This move follows prior communications from Enviro regarding a broader strategic shift in its relationship with the joint venture.

Earlier, Enviro had already disclosed that it was initiating a corporate reorganisation process, which included the termination of the various agreements that had previously defined and governed the working relationship and collaborative framework between Enviro and Infiniteria. This fundamental restructuring of their partnership set the stage for further complications, as disagreements began to surface between Enviro’s board members and the other directors serving on the Infiniteria board.

Specifically, the differing viewpoints between these two groups centred on critical matters related to corporate governance standards and the internal functioning of the board itself. Due to the emergence of these unresolved conflicts, combined with the ongoing dissolution of their formal cooperation agreements, Björling and Aaben concluded that stepping down from Infiniteria’s board of directors was the necessary course of action, leading to their formal resignations.

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MESNAC played a central role at the 2026 China Rubber Annual Conference, held in Qingdao from 24 to 27 March by the China Rubber Industry Association. On March 24, the Enlarged Meeting of the Rubber Machinery and Molds Branch took place, gathering key figures such as Deputy Secretary-General Zhu Hong, Branch Secretary-General Jiang Xin and Branch Chairman Guan Bingzheng, who also serves as MESNAC’s Chairman and President. Representatives from leading enterprises and governing units discussed the industry’s 2025 performance, ongoing difficulties and 2026 trends. The session was hosted by Zhou Chuanhai, General Manager of MESNAC Union Technology Co., Ltd.

Bingzheng pointed out that the rubber machinery and moulds industry managed to achieve positive overall growth in 2025 despite facing numerous difficulties. Rubber machinery exports rose notably even under adverse conditions, while the mould sector continued its gradual upward climb. He also noted that the industry has moved away from simply pursuing larger scale and is now prioritising higher quality and better performance.

With 2026 marking the start of the 15th Five Year Plan period, which is crucial for turning China from a large rubber producer into a powerful rubber nation, he laid out three main directions. One is embracing green practices, smart technology and global market expansion. Another is keeping pace with tyre manufacturers moving overseas to enable shared global growth. The third is focusing on new energy tire needs and artificial intelligence upgrades to push the industry towards high end transformation.

On March 26, at a forum themed Digital Empowerment and Green Development, MESNAC Vice President Yang Huili demonstrated how artificial intelligence is deeply applied in rubber tyre making. She described an intelligent system that forms a continuous loop from sensing in real time and learning on its own to making smart decisions and carrying out closed loop actions. It applies industrial vision for accurate measurement with very few missed defects, uses MCC software to merge process data and correct within milliseconds and employs large models for maintenance that quickly locate faults with high precision to enable predictive repairs. Through both strategic leadership and hands on technical demonstration, MESNAC showed its dedication to advancing the industry under changing conditions.

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The Goodyear Tire & Rubber Company has officially launched its 2026 Goodyear Blimp Europe tour, returning the iconic airship to the skies above European motorsport events. This marks a highly anticipated comeback for one of aviation’s most famous aircraft, which will first appear during the opening FIA World Endurance Championship (WEC) race of the season. Spectators at the track can expect a breathtaking sight as the blimp soars overhead, enhancing the atmosphere of race weekend.

For decades, the Goodyear Blimp has been closely linked with legendary sporting moments and stands as a proud emblem of Goodyear’s racing heritage. Its planned flights over FIA WEC races will allow both live attendees and global viewers to catch a glimpse of the airship capturing stunning aerial footage. This tour takes on added significance as Goodyear celebrates 75 years of operations in Luxembourg, a milestone year for the company in Europe. Beyond tyre production, Luxembourg hosts Goodyear’s only Innovation Centre outside United States, where cutting edge technologies and motorsport partnerships are developed.

Fans attending select FIA World Endurance Championship events across Europe throughout the 2026 season are encouraged to watch the skies for the blimp’s appearances. The tour not only highlights Goodyear’s deep roots in racing but also underscores its longstanding commitment to European innovation and manufacturing excellence.

Jan-Piet van Kesteren, Managing Director EMEA & Chief Sales Officer EMEA Consumer, said, “The Goodyear Blimp is one of the most iconic symbols in racing. Seeing it fly above in the skies of several main FIA WEC races is always a special moment for fans. We are excited to bring the Goodyear Blimp back to European skies and share that experience with racing audiences across the region.”

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