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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ZC Rubber has unveiled plans to establish a new tyre production base in Vietnam, adding another site to its worldwide manufacturing map. The plant, occupying 344,195 square metres within IDICO Phu My II Expansion Industrial Park, is targeted to start output in 2027.

A newly created subsidiary, ZHONGCE RUBBER VIETNAM COMPANY LIMITED (ZCV), will run the operation. The company marked a developmental milestone in Ho Chi Minh City on 12 November 2026, when it obtained the investment registration certificate and formalised a land sublease with IDICO Corporation.

The Southeast Asian nation's location, trade relationships and maturing industrial base make it a sound choice for the venture, which will cater to Vietnamese and regional demand while reaching European and North American buyers. The move fits ZC Rubber's wider push to spread production across multiple countries and reinforce supply flexibility for distributors and customers globally.

Henry Shen, Senior Deputy General Manager, ZC Rubber, said, “Our overseas investments are guided by a long-term goal: to build a manufacturing network that supports our customers as their markets evolve. The Vietnam facility will give us greater flexibility to serve key markets and support our partners’ growth. We appreciate the support of the local authorities and will work closely with IDICO to deliver this project to high standards.”

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Tyres Europe has released its members’ replacement tyre sales figures for Q3 and the first nine months of 2026. Secretary General Adam McCarthy cautioned that modest nine-month gains should not obscure a weak third quarter. Consumer tyres across passenger car, SUV and light commercial dipped 1 percent in Q3 versus 2025, though nine-month volumes stayed 1 percent ahead, with all-season tyres up 13 percent in the quarter and 10 percent over nine months.

Summer tyres slipped 1 percent in both periods as demand shifted towards all-season, while winter tyres fell 11 percent in the quarter and remained 9 percent lower over nine months. Miles travelled declined again on high fuel prices and weak consumer confidence amid Middle East conflict, at about half Q2's pace, and PCLT imports into the EU27 plus UK dropped 7 percent from January to August.

Chinese imports more than halved year on year in July and August after July's anti-dumping duties. Truck & Bus tyres were stable in the quarter after strong Q2 growth and stood 4 percent higher over nine months, with freight volumes beating expectations and truck tyre imports up 26 percent. Agricultural tyres fell 34 percent quarterly and 17 percent over nine months, Moto & Scooter tyres dropped 5 percent in the quarter but stayed 2 percent higher over nine months. The full report is available on Tyres Europe's website.

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Goodyear brought generations of performance heritage to the 2026 SEMA Show in Las Vegas, where its tyres appeared on some of the event's most talked-about vehicles. The annual automotive aftermarket gathering ran from 3–6 November at the Las Vegas Convention Center, drawing builders, manufacturers, buyers, media and enthusiasts for four days centred on innovation, new products, craftsmanship, performance and emerging trends. For Goodyear, the setting was familiar territory, as racing has long served as both a proving ground and an inspiration for its street products.

A 1928 Ford Model A reimagined by TQ Customs as an F1-inspired mid-engined hot rod stood out among the featured builds. It pairs a custom chassis and roll cage with a Honda K20 engine and Porsche transaxle, riding on custom Goodyear Eagle F1 tyres sized 275/45R18. Three F-550 Super Duty trucks wore Goodyear's heavy-duty G275 MSA in 335/80R20, while the new 819-horsepower Ferrari 12 Cylindri was fitted with application-specific Eagle F1 SuperSport tyres, sized 275/35R21 front and 315/35R21 rear.

Goodyear's presence also extended through Mickey Thompson Tires & Wheels, the enthusiast performance brand within its portfolio. Mickey Thompson maintained a significant show footprint with displays in the Race/Performance section of Central Hall and the Silver Lot, showcasing products and builds spanning street, strip and off-road performance. Its SEMA programme highlighted the limited-edition Street Comp GHT Signature Series street-performance tyre, expanded Baja Boss A/T and Baja Boss M/T sizes and new MT Classic Forged wheel sizes.

The vehicles on display ranged from vintage American muscle to cutting-edge performance machines and purpose-built off-road rigs, yet they shared a fundamental drive to perform better, make a statement and become more personal.

Andrew Lau, Enthusiast Account Lead at Goodyear, said, "The SEMA Show highlights the best of the industry – emotionally charged and technology-filled and crossed with dramatic and eye-catching, which is where Goodyear and our dynamic portfolio really shine. For cars worth bragging about, we make tyres worth bragging about! Our Goodyear Eagle lineup fits the ever-growing supercar market, which we see growing especially as more enthusiasts get their hands on these cars at a range of price points. And it wouldn’t be SEMA without giant trucks and extreme lift kits, where we saw Mickey Thompson and Goodyear tyres shown off in a dramatic fashion.”

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Yokohama Tire has partnered with Tread Lightly! for the Protect What Moves You fundraiser, running through 30 November. Consumers who donate can enter to win GEOLANDAR tyre prize packs or a full set of tyres. Proceeds support trail stewardship, responsible recreation and keeping public lands open.

According to Yokohama’s Senior Manager of Corporate Communications Melissa Aguirre, each USD 10 donation earns one entry for a GEOLANDAR prize pack, while donations of USD 100 or more earn one entry for a set of Yokohama tyres. The initiative complements Yokohama’s environmental ‘Caring for our Communities’ partnerships, which include Surfrider North Orange County and the California State Parks Foundation.

Aguirre said, “We’ve been an official partner of Tread Lightly! for three years and have collaborated on several stewardship projects across the country to improve access, restore trails and protect natural resources for off-road enthusiasts and outdoor adventurers. The Protect What Moves You campaign will definitely help with those efforts.”

James Boyd Jr., Executive Director of Tread Lightly!, said, “We’re grateful for Yokohama Tire’s continued partnership and commitment to protecting the places we all love to explore. Through our work together, we’ve made a meaningful impact on trails and public lands across the country. The Protect What Moves You fundraiser gives outdoor enthusiasts an opportunity to support responsible recreation and hands-on stewardship while helping ensure these places remain accessible for future generations.”

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