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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Michelin has introduced the new MICHELIN XHA3 tyre, a next-generation product engineered to meet the escalating productivity demands of modern construction equipment. Building on the established legacy of the MICHELIN XHA2, this latest release is designed to support faster operational cycles and the increased capabilities of contemporary machinery, all while prioritising uptime and efficiency through a combination of versatility and innovation.

Developed for a broad spectrum of heavy machinery, the MICHELIN XHA3 is suitable for loaders, articulated dump trucks and graders, covering E3, L3 and G3 applications. Its multi-machine design allows it to perform effectively across diverse terrains, ranging from mud and asphalt to more aggressive environments. This adaptability not only simplifies fleet management but also reduces inventory complexity by minimising the number of tyre references needed on site.

The tyre’s advanced structure and new tread design, which incorporates increased rubber volume, deliver up to 20 percent greater wear life compared to the previous generation. Enhancements such as a reinforced bead area provide up to 20 percent additional load capacity depending on the size, accommodating high-torque machinery. Furthermore, the new four-block tread pattern and optimised shoulder radius improve traction and stability, contributing to reduced vibration and enhanced operator comfort.

A standout feature of the MICHELIN XHA3 is the patent-pending Michelin Visual Pressure Control, an integrated sidewall indicator that allows for immediate visual inspection of tyre inflation without the need for sensors or electronic devices. This system facilitates routine safety checks and streamlines workflows, contributing to lower maintenance costs and reduced unplanned downtime. With a high retreadability rate and an estimated 16 percent reduction in Total Cost of Ownership, the tyre is positioned as a durable, reliable solution that will be progressively rolled out worldwide in multiple dimensions.

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Continental has unveiled a concept tyre developed under the EU-funded ZEvRA project, which is composed of approximately 43 percent recycled materials. The innovation serves as a demonstration of the potential inherent in advanced material approaches while simultaneously underscoring the critical need for a dependable regulatory framework to facilitate the industrial-scale adoption of recycling technologies.

The technical achievement is set against the backdrop of the ZEvRA initiative, an acronym for ‘Zero Emission Electric Vehicles Enabled by Harmonized Circularity’. This two-year EU project, slated to conclude in 2026, is dedicated to enhancing the circular economy for electric vehicles across the entire value chain. As the sole tyre manufacturer participating in the consortium, Continental brings specialised expertise to the collaborative effort.

Addressing the complexities of tyre production, which requires a precise balance of numerous high-performance raw materials to guarantee safety, efficiency and durability, the concept tyre represents a significant milestone. The successful integration of a substantial proportion of recycled content into a safety-critical component, without compromising performance standards, highlights the compatibility of ecological responsibility and product excellence. The tyre has achieved the highest possible rating on the EU rolling resistance label.

The ZEvRA concept tyre incorporates a variety of recycled materials, including tall oil, steel, rubber derived from end-of-life tyres and polyester fibres sourced from recycled PET bottles. Continental employs advanced methodologies such as pyrolysis to extract recovered carbon black from old tyres for repurposing. Since 2023, this material has been utilised in all newly manufactured solid rubber tyres at the Korbach facility. Additionally, the company uses sand residue from foundries in a recycling process to produce an alternative silica variant, effectively keeping materials in circulation and reducing the demand for primary resources.

Continental executives have articulated the strategic importance of this development. Dr Andreas Topp, head of Platform Development and Industrialization for passenger-car tyres, emphasises that while circular materials are key to sustainable mobility, the full impact of technological progress requires reliable and aligned policy frameworks. Jorge Almeida, head of Sustainability for Continental’s Tires group sector, stresses the necessity of establishing innovative recycling technologies on an industrial scale and creating closed material flows. He advocates for a standardised, transparent approach to calculation and reporting, developed through close dialogue between policymakers and stakeholders.

Beyond the recycled content, the concept tyre also features approximately 13 percent renewable raw materials and 25 percent mass-balance-certified materials, bringing the total share of sustainable sources to over 80 percent. Continental is progressively increasing the use of such materials across its portfolio, with the share of purchased renewable and recycled production materials reaching 28 percent in 2025, with a target of at least 40 percent by 2030. Insights from the ZEvRA project will guide the company’s future development of materials and technologies, focusing on industrial availability and scaling manufacturing processes.

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Doublestar Tire emerged as a prominent exhibitor at the 2026 Latin Tyre & Auto Parts Expo in Panama City. The premier industry gathering for the Americas attracted over 700 international exhibitors and more than 30,000 professional trade visitors, providing a substantial platform for automotive parts and tire manufacturers.

The Panamanian event serves as a critical commercial gateway, radiating trade opportunities across more than 20 neighbouring nations. Given Latin America’s varied topography and climatic extremes, which demand superior tyre resilience and wet traction, Doublestar has collaborated with regional partners to engineer customised products. These targeted solutions have secured considerable market acceptance and popularity throughout the area.

Among the showcased innovations, the TBR tyre D902 integrates a wear-resistant compound with an advanced tread pattern, ensuring dependable stability for long-haul routes in tropical heat. The DSU02, a premier passenger car tyre, demonstrates exceptional protection against abrasion and impact, coupled with superior handling in both wet and dry conditions. A diverse portfolio of economically priced models further drew significant attention from purchasing agents.

This strategic participation has notably amplified Doublestar’s brand presence across the American markets and established a robust framework for deeper local engagement. Committed to delivering high-performance, value-added transportation solutions, Doublestar continues to reinforce the international standing of Chinese tyre manufacturers through quality-driven innovation.

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Barez Industrial Group, Iran’s leading tyre manufacturer, observed its 29th consecutive year of activity on the Tehran Securities Exchange during a commemorative event held on 23 August 2026. The gathering featured the traditional exchange bell ceremony, underscoring the company’s enduring footprint in Iran’s capital markets.

Speaking on the occasion, Jamal Mirzaei, CEO of Barez Industrial Group, spoke of the organisation’s momentum, asserting that current undertakings and forward-looking blueprints are steadily carving out its tomorrow. The firm’s leadership used the platform to reaffirm its commitment to sustained growth and operational excellence.

Originating as a provincial manufacturer in Kerman back in 1985, Barez has since risen to become a linchpin of the national tyre industry. Strategic upgrades to production lines and the integration of cutting-edge manufacturing processes have propelled its reach beyond borders. Since joining the TSE in 1997, it has outshone six other listed peers in the rubber and plastics category, claiming the largest share of the sector’s overall valuation, which exceeded IRR 330 trillion at the prior session, with the group responsible for over IRR 120 trillion of that figure.

The proceedings also included an award presentation, with TSE Chief Mahmoud Goudarzi offering a commemorative token to Mirzaei in appreciation of the firm’s three-decade record of transparent engagement with the exchange. Later, a press engagement allowed the executive team to walk reporters through notable milestones, pipeline ventures and strategic forecasts, fostering a clearer view of the company’s roadmap for investors and analysts alike.

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