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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India will once again be represented at the world's most formidable rally raid as veteran racer Sanjay Takale prepares for his second attempt at the Dakar Rally in 2026. This event, renowned as the ultimate endurance challenge, will see Takale draw upon his disciplined approach and decades of international racing expertise across both motorcycles and cars. His participation underscores a continued, though rare, Indian presence on this global motorsport stage.

Takale’s previous campaign was historically successful, culminating in an 18th-place overall finish. Framing his upcoming effort as an evolved chapter, he is focusing on intensified preparation and strategic refinement. This return is fuelled by over 35 years of accumulated track insight and a sharpened competitive perspective.

In addition to his driving career, Takale’s role as Director of aerpace Industries allows him to champion broader national ambitions in engineering and mobility. He consistently frames motorsport as a dynamic proving ground for core industrial principles like precision, systemic endurance and meticulous execution.

Ultimately, Takale's journey back to the Dakar starting line symbolises India's growing footprint in international motorsport. It is a narrative built not on fleeting speed but on profound experience, resilience and a dedicated pursuit of excellence under the world's most extreme racing conditions.

Takle said, “My first Dakar was an extraordinary experience. Dakar changes you once you race it; you are never the same. It challenges you mentally, breaks you down and teaches you resilience, discipline and the true meaning of fighting back. I emerged not just as a stronger driver but as a different person altogether. This year, my focus is clear to return, finish the rally again and significantly improve my position. I will once again be competing for my team, aerpace Racers, with technical support from Compagne Sharenne, France. I am proud to represent India as the only four-wheeler entry for the second consecutive year. My goal is simple: to see the finish line and to finish stronger.”

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Hankook Tire has been honoured with a Ministerial Commendation by the Ministry of Trade, Industry and Resources of Korea. The honour was conferred at the 2025 Outstanding Overseas Investment Contributors Awards, an event hosted at the Korean Cultural Center in Budapest, Hungary, designed to recognise firms that enhance national competitiveness through global investment. During the ceremony, the company's leadership detailed its achievements to an audience of diplomatic officials and fellow Korean businesses operating in the region.

The award celebrated Hankook Tire's excellence across four critical areas. Economically, its strategic manufacturing base in Rácalmás, Hungary, established in 2008, has become a significant contributor to the Korean economy through consistent profit repatriation. The company has also acted as a catalyst for other Korean enterprises, enabling market entry for supply chain partners while securing its own strategic alliances within Europe, thereby strengthening the collective agility and global standing of Korean industry.

Beyond commerce, the company's deep local social commitment was highly recognised. The Hungarian plant is a cornerstone of the regional economy, having multiplied its local workforce to approximately 3,000 employees and maintaining this stability even through periods of global economic uncertainty. This commitment extends through extensive community outreach, including the long-term donation of tyres to enhance public and private mobility safety, alongside targeted investments in local infrastructure, social welfare and youth scholarships.

Furthermore, Hankook Tire serves as a central pillar for the Korean business community in Hungary. By holding leadership roles in major business associations, the company facilitates essential dialogue and practical cooperation, helping to resolve common challenges and support the sustainable operation of Korean enterprises in the market. Through this powerful combination of economic performance, social integration and community leadership, Hankook Tire exemplifies the impactful role of responsible overseas investment in fostering mutual growth and strengthening international ties.

Ho Taek Lim, Managing Director of Hankook Tire Hungary plant, said, “As a representative company with deep roots in Hungary, Hankook Tire is committed to fostering unity within the Korean community and supporting the successful establishment of Korean companies entering the market. Through close collaboration with local institutions, we will continue enhancing the competitiveness of Korean companies in Europe while advancing Korea’s national interests.”

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Apollo Tyres Ltd has introduced the Vredestein Comtrac 2+, a new summer tyre engineered for light commercial vehicles. Set for a European launch in January 2026, this premium model will be available in 21 sizes for rims from 15 to 17 inches, including extra-load variants for heavier demands. It builds upon its predecessor with significant advancements in durability, efficiency and overall performance, aiming to lower the total cost of ownership for fleet operators.

A key innovation is a fourth-generation polymer compound, which boosts abrasion resistance by 13 percent. This advancement extends tread life, reduces replacement frequency and minimises the release of microplastics from wear. The tyre’s construction includes a reinforced bead area and a robust carcass for enhanced stability and reliability under heavy loads, improving vehicle uptime. Safety in wet weather is addressed through a specialised silica filler and an efficient tread pattern designed to prevent aquaplaning by rapidly dispersing water.

Furthermore, the Comtrac 2+ achieves a seven percent reduction in rolling resistance, improving fuel economy for conventional vehicles and helping to extend the driving range of electric and hybrid vans. Every aspect of the tyre is crafted for maximum longevity and cost efficiency, supporting business operations with fewer interruptions. The product also meets the stringent requirements of the European Union Deforestation Regulation, aligning with contemporary environmental and sustainability standards.

Yves Pouliquen, Vice President, Commercial EMEA, Apollo Tyres Ltd, said, “With the Comtrac 2+, we set out to address the changing demands of today’s light commercial vehicle operators, whether independent trade professionals or major fleet managers. Our R&D Team has engineered the tyre to deliver longer tread life, lower rolling resistance and a safer, more comfortable ride that drives greater efficiency – all at an accessible price point.”

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MRF Tyres has once again proven its motorsport pedigree by securing the 2025 FIA European Rally Championship Team Title. The official accolade was presented at the season-ending FIA Awards Gala in Tashkent, where Vice-Chairman and Managing Director Arun Mammen collected the trophy. This gala represents the pinnacle of the international motorsport calendar, formally recognising champions from across the discipline.

This victory marks the team’s third ERC crown, following previous successes in 2022 and 2023. It was earned through a campaign defined by remarkable consistency and adaptability across diverse rally stages. Strategic tyre choices and seamless coordination between the team’s personnel, engineers and driving crews were fundamental to this achievement, highlighting the programme’s overall strength and the reliability of its products.

The company has extended its appreciation to every individual who contributed to this result. The recognition at such a distinguished forum reinforces the company’s commitment to excellence and cements its position as a leading force on the global rally stage.

Mammen said, “We are deeply honoured to receive the Team Title at such a prestigious occasion. This award recognises not only the work of our engineers and staff, but also the spirit, dedication and resilience of the entire MRF Tyres organisation, both on and off the stages of the 2025 European Rally Championship. When preparation, performance and passion come together, tyres can make the difference. This trophy underlines our commitment and encourages us to continue delivering our very best in the seasons to come.”

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