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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Birla Tyres has officially joined the Automotive Tyre Manufacturers’ Association (ATMA), becoming the newest member of the leading industry body. The company, with its registered office in Kolkata, operates a large-scale manufacturing facility in Balasore, Odisha, which spans 195 acres and is dedicated to producing a diverse range of speciality tyres.

Based in New Delhi, ATMA represents major tyre manufacturers that account for more than 80 percent of domestic production. The association serves as a vital link between the government and the industry while also engaging with media, opinion leaders and international trade bodies to advocate for the sector’s perspectives.

ATMA actively participates in policy formulation and regularly consults with government departments on economic challenges affecting the industry. Its existing membership includes prominent firms such as MRF Tyres, JK Tyre & Industries, CEAT Ltd and Bridgestone India, the local subsidiary of the Japanese tyre giant.

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Bridgestone has reported a significant shift in UK consumer sentiment regarding electric vehicles, with new data indicating a sharp rise in drivers who reject the technology. The tyre manufacturer's survey reveals that 26 percent of motorists now declare they will never purchase an EV, up from 17 percent in 2025, while only 16 percent plan to acquire one within the coming year.

Persistent operational anxieties continue to overshadow the market. Battery durability and replacement costs trouble 55 percent of respondents, half worry about charging expenses and 44 percent express unease over range limitations and high sticker prices.

Infrastructure inadequacies further compound hesitancy, as 43 percent feel public charging stations remain insufficient and 41 percent are deterred by prolonged recharging times. Despite these barriers, 53 percent anticipate purchasing an EV within five years, while seven percent remain undecided.

Bridgestone is reinforcing its commitment through 'EV Ready' tyres like the Turanza 6, engineered for efficiency, safety and wear life across electric and combustion vehicles. These innovations align with the company's E8 Commitment and Ecology pillar, advancing sustainable tyre technologies and mobility solutions.

Drew Chapman, North Region Consumer Sales Director at Bridgestone, said, "Electric vehicles are becoming an increasingly familiar sight on our roads, but our research shows that many drivers still have genuine questions and concerns about making the switch. While some of the barriers are gradually reducing, issues such as battery life, charging costs and infrastructure remain front of mind for many motorists. The industry has made significant progress, but it's clear there is still work to do in building confidence among consumers.

"Whether drivers are behind the wheel of an EV, hybrid or conventional vehicle, they want products they can trust. Our focus is on helping motorists get the very best from their vehicles today while supporting the mobility solutions of tomorrow."

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The Yokohama Rubber Co., Ltd. has secured its place in three major global ESG stock indexes, marking over two decades of sustained recognition in sustainable investing. The company’s inclusion in the FTSE4Good Index Series now extends to 22 consecutive years, while its presence in the FTSE JPX Blossom Japan Index has reached a 10th year and the Sector Relative Index a 5th year.

Developed and administered by FTSE Russell, a London Stock Exchange Group subsidiary, these benchmarks serve distinct investment purposes. The FTSE4Good Series is widely utilised by international investors as a reference for responsible portfolios. Meanwhile, the two Japan-specific indexes, designed to highlight domestic firms with exemplary ESG performance, have been adopted by the Government Pension Investment Fund to steer its own sustainable asset allocation.

Under the corporate sustainability motto of caring for the future, Yokohama Rubber continues to integrate social problem-solving into core business operations, thereby generating shared value. This longstanding index qualification reflects the firm’s consistent commitment to transparent governance, environmental stewardship and social responsibility, reinforcing its strategic focus on long-term value creation through ethical business conduct.

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Apollo Tyres Ltd has launched the Apollo Altrust Winter van tyre, a new addition to its commercial vehicle lineup engineered to deliver extended durability alongside reliable snow and wet-weather traction. Scheduled for European release in July 2026, this winter variant finalises the Altrust family, which already includes the popular summer and all-season iterations.

Developed entirely within Europe, the tyre achieves a top wet grip classification of ‘A’ and a noise rating of ‘B’ at 72 decibels. Offered in 15 size options across 15- to 17-inch rim diameters, the Altrust Winter is designed to accommodate a broad spectrum of vans and light commercial vehicles, including contemporary models such as the Ford Transit, Mercedes Sprinter and IVECO Daily.

Superior handling on snow, ice and rain-soaked roads stems from several engineering innovations. A multi-pitch tread pattern optimises block sizing and spacing for consistent performance, while three-dimensional sipes enhance road biting capability. Additionally, the centre and shoulder lateral grooves have been strategically configured for swift water dispersal, which bolsters wet grip and lessens aquaplaning risks.

For fleet operators, longevity and reduced wear are critical to lowering total cost of ownership. Apollo’s research division formulated a compound with a balanced polymer-and-filler mix to boost abrasion resistance and curb material degradation. Reinforced shoulder tie-bars preserve a stable contact patch under heavy use, promoting even tread wear and sustaining all-weather effectiveness over the tyre’s lifespan. Noise management was also prioritised, with careful tuning of pitch sequences and shoulder block bridges to minimise acoustic output.

Udyan Ghai, Group Head – Marketing, Apollo Tyres Ltd, said, “Our research and development team in Enschede, The Netherlands, spent over two years exploring the needs of van owners and users, creating a winter van tyre that delivers an optimal balance of performance and value. They focused on those attributes that matter most to fleet operators and van drivers: safety, durability and low operating costs. We know that wet-weather performance is becoming increasingly important for operators across Europe, so we are particularly pleased to see the tyre secure an A rating for wet grip.”

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