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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Egypt has taken a step towards establishing a USD 500 million tyre manufacturing complex in the Sokhna Industrial Zone, according to Daily News Egypt, following the signing of a letter of intent between the Suez Canal Economic Zone (SCZONE) and China’s Zhongce Rubber Group.

Minister of Investment and Foreign Trade Mohamed Farid and SCZONE Chairperson Mostafa Sheikhoun witnessed the signing, which sets out a framework to study the project’s feasibility and assess its technical and investment requirements.

The proposed development would span about 600,000 sq metres and be implemented in three phases. Around 95 per cent of production, comprising passenger car and truck tyres, would be directed towards export markets.

Farid, as per the report, said the agreement marked “an important step towards exploring the establishment of an integrated industrial project in the tyre sector”, adding that it reflects efforts to attract foreign direct investment, expand production and boost exports.

He said Egypt’s geographical position, infrastructure and logistics capabilities support access to markets in Africa, the Middle East and Europe, strengthening its potential as a regional manufacturing hub.

Sheikhoun said the project aligns with SCZONE’s strategy to attract industrial investment and deepen local manufacturing, adding that the Sokhna Industrial Zone offers logistical advantages and access to global trade routes.

Shen Jinrong, Chairperson and General Manager of Zhongce Rubber Group, said the company plans to implement the project in three phases, with investments of about USD 500 million He added that around 95 percent of production would be exported as the group seeks to expand in regional and international markets.

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Prinx Chengshan is showcasing its core brand portfolio at the 21st China International Tire and Wheel Expo (CITEXPO 2026), which commenced in Shanghai on 2 September. Having evolved over two decades, this annual gathering has solidified its status as a pivotal professional trade fair for the Asia-Pacific tyre and wheel sector. The company’s exhibition presence features its four principal labels: PRINX, Chengshan, Austone and Fortune.

A significant focus of Prinx Chengshan's recent corporate strategy has been the off-the-road tyre segment, where substantial industrial advancements have been achieved. The company has operationalised a green, intelligent manufacturing facility dedicated to OTR production, leading to the successful serial production of giant tyres in 27.00R49, 30.00R51 and 33.00R51 dimensions. The recent addition of a 57-inch model, which completed production in August, has expanded this product matrix and signifies a new developmental phase in speciality tyre engineering.

The company's technological prowess in the OTR field is demonstrated by specific products at the expo, including the ERD47 tyre for rigid dump trucks and the ET36 for wide-body dump trucks. These models serve as tangible evidence of the manufacturer's continuous research and development breakthroughs within this demanding sector.

In the passenger vehicle domain, Prinx Chengshan is presenting its newly launched Austone MEI series, which embodies the brand's philosophy of instilling driving confidence and aesthetic appeal. This series offers three distinct products: the Meizong all-terrain tyre, the Meijie ultra-high-performance tyre and the Meitu high-performance tyre. Also featured is the Prinx Chroma Sprite, which distinguishes itself with coloured sidewalls that challenge conventional tyre aesthetics while incorporating noise-reduction and anti-photo-oxidation technologies for enhanced durability.

Leveraging extensive commercial vehicle expertise, the company has developed proprietary technologies including GPT low rolling resistance, X-CHIP intelligent tyre and ETT wear-resistance for electric trucks. These innovations have established industry benchmarks in the replacement market and facilitated growth in original equipment segments. The Austone AAR608 for long-haul routes and the Fortune FDO307 for mining conditions are on display, showcasing the expanding scope of the company's industrial solutions.

Looking forward, Prinx Chengshan intends to persist with its integrated product and service approach, focusing on the varied requirements of global customers. By enhancing product quality, service delivery and brand equity, the company aims to contribute substantially to the sustainable progress of the worldwide transportation industry through its advanced manufacturing capabilities.

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Triangle Tyre has been appointed as the inaugural Official Tyre Partner of Brentford Football Club following the signing of a new two-year exclusivity agreement in the tyre category. The contract was formalised in London by Brentford Commercial Director Fran James and Triangle Tyre’s Europe General Manager, Corrado Moglia.

The alliance unites two performance-focused entities that share a challenger philosophy, having each ascended in their fields through strategic intelligence and operational efficiency. Brentford’s renowned data-driven methodologies are complemented by Triangle Tyre’s dedication to engineering research and product advancement, creating a synergy between on-pitch analytics and industrial innovation.

As part of the arrangement, Stapleton’s Tyre Services, the largest UK distributor of passenger car tyres, has been designated as the Local Delivery Partner to facilitate the activation of commercial rights domestically. Brentford’s international visibility is expected to elevate Triangle Tyre’s global brand presence, while the club will also coordinate targeted promotional efforts within London and the broader United Kingdom.

Sustainability forms a core pillar of the collaboration, providing a platform to highlight Triangle Tyre’s environmental commitments and technological developments alongside community initiatives nationwide. The tyre manufacturer will benefit from matchday branding at the Gtech Community Stadium, player and ambassador content opportunities and exclusive hospitality access during home fixtures.

Fran Jones, Commercial Director, Brentford, said, "It's very exciting to welcome another challenger brand like Triangle to our partnership family. When you share that mindset, the understanding of what the partnership can achieve is clear from the start. Triangle's innovation and sustainable commitments really impressed us too, so I have full faith that this is the beginning of a strong, impactful relationship."

Corrado Moglia, General Manager – Europe, Triangle Tyre, said, “We are extremely pleased to begin this partnership with Brentford Football Club. Brentford is a club with a strong identity, an ambitious approach and a reputation for competing successfully through intelligence, organisation and determination. Triangle and Brentford share a challenger mindset and believe that data, technology and efficiency can deliver outstanding results. This partnership is an important step in strengthening Triangle’s brand visibility across Europe while providing a powerful global platform to communicate our innovation, sustainability and corporate responsibility.”

Andy Fern, Managing Director, Stapleton’s Tyre Services, said, “We are delighted to support this exciting partnership. As the UK’s largest tyre distribution business, we have worked with Triangle for many years to bring its passenger car tyres to market, and have seen first-hand the brand’s commitment to innovation, quality and sustainable development. Brentford’s progressive approach and strong community connection make them an excellent partner. We look forward to bringing the partnership to life and creating meaningful opportunities to engage our customers, and, ultimately, drivers across the country.”

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Michelin has secured a landmark contract extension with the Fédération Internationale de l’Automobile (FIA) and the Automobile Club de l’Ouest, cementing its role as the exclusive tyre supplier for the Hypercar class in the FIA World Endurance Championship. The renewed agreement, which emerged from a formal tender process, will now remain in effect through the conclusion of the 2032 season, adding three additional years to the existing deal that was originally set to expire in 2029.

The French tyre manufacturer has maintained an uninterrupted presence in elite endurance racing since 1998 and was instrumental in the championship’s revival in 2012. Currently, Michelin supplies every competitor within the Hypercar field, a category that showcases premier global automotive brands. Within this highly competitive environment, tyre performance directly influences speed, strategic decision-making, safety protocols and overall ecological footprint.

Endurance racing continues to function as a critical testing ground for Michelin’s technological advancements, with extreme track conditions, varied weather and sustained high-speed loads driving rapid innovation. These rigorous demands facilitate the transfer of cutting-edge developments to everyday road tyres. Furthermore, the company has leveraged motorsport to advance sustainable mobility, as evidenced by the new 2026 MICHELIN Pilot Sport Endurance range, whose slick compounds now feature 50 percent renewable and recycled materials.

This extended partnership ensures Michelin will maintain its development platform alongside the FIA, the ACO and all Hypercar manufacturers. The collaboration underscores racing’s capacity to produce tangible, resource-conscious solutions that uphold performance standards while addressing environmental considerations across the entire tire lifecycle.

Matthieu Bonardel, Director, Michelin Motorsport, said, “We are particularly proud of the renewed confidence shown in Michelin by the Fédération Internationale de l’Automobile and the Automobile Club de l’Ouest. I would like to sincerely thank both organisations for the quality of our discussions throughout this tender process. This contract extension is a strong recognition of the quality of the tyres and services we provide, as well as our ability to continuously innovate. It is also excellent news for our teams and for all our manufacturer partners, with whom we share the same ambition: to push the boundaries of performance while accelerating the transition towards increasingly sustainable mobility.”

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