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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The Alliance for the Future of Tires (AZuR) is at the centre of a new industrial paradigm, as a recent study by the Boston Consulting Group (BCG) for the Federation of German Industries (BDI) confirms that the circular economy is becoming a decisive competitive factor for Germany. The analysis projects that circular gross value added could more than double from roughly EUR 60 billion (approximately USD 69.60 billion) today to up to EUR 125 billion (approximately USD 144.95 billion) annually by 2045, cumulatively unlocking an additional EUR 880 billion (USD 1.02 trillion) in value creation. AZuR interprets these findings as validation that recycling, reuse and extended product life cycles directly strengthen climate protection, supply security and industrial competitiveness.

A practical model of this transition already exists in the tyre recycling sector, where Germany generates around 50 million used tyres each year. Through professional repair, retreading and regrooving, many of these tyres could remain in use significantly longer before being mechanically or chemically recycled. AZuR actively champions keeping tyres and their raw materials in circulation across Europe, with the clear goals of avoiding waste, lowering CO₂ emissions, conserving natural resources and securing secondary raw materials for industry.

The effectiveness of extending tyre lifespan is illustrated by commercial vehicle retreading, which can increase mileage by up to 25 percent. According to an AZuR and DBU study conducted by the Fraunhofer Institute UMSICHT, retreading saves over 60 percent of CO₂ emissions, roughly two-thirds of raw materials and about 50 percent of the energy compared to new tyre production. Tyres no longer suitable for retreading are then mechanically processed into rubber granulate or chemically recycled via pyrolysis and devulcanisation, yielding valuable secondary materials for construction and new tyre products.

With more than 80 partners across the entire value chain, AZuR networks industry, small and medium-sized enterprises, science and recycling technology to develop concrete circular solutions. The BCG and BDI study thus confirms that the circular economy is not merely an environmental policy issue but a crucial growth driver for Germany’s industrial future, a role that AZuR believes the tire industry is uniquely positioned to lead.

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DUNLOP has entered the Italian Rally Championship this season with former Formula 1 driver Heikki Kovalainen at the wheel. Backed by parent company Sumitomo Rubber Industries, Kovalainen competes alongside his longstanding co-driver Patric Öhman for Gino Scuderia in a Citroën C3 Rally2 fitted with DUNLOP DIREZZA 201R and 301R racing tyres.

DUNLOP’s involvement in the championship forms a key part of its global motorsport strategy, offering ideal conditions for tyre development under real-world competitive pressure. The variety of asphalt surfaces encountered provides valuable data on performance, durability and vehicle dynamics, helping transfer insights into future road tyre advancements. Kovalainen, drawing on extensive experience from Formula 1 and international rallying, has been closely involved in high-performance tyre development and will use his technical feedback to support DUNLOP’s rally tyre evolution.

As Italy’s premier rally series and one of Europe’s most demanding asphalt championships, the CIAR features seven closed-road rounds known for high speeds, technically challenging stages and extreme demands on drivers, cars and tyres. The series regularly attracts competitors from the World Rally Championship and European Rally Championship, reinforcing its reputation as a tough and respected battleground.

With two rounds completed, the season began in Tuscany in March with a 12th-place finish. A mechanical issue ended their challenge in Sicily on 14–16 May, but the duo returns to contest the championship on 4–6 June in Verona, followed by events in Rome, Alba and Cassino before the finale in Sanremo. The programme strengthens DUNLOP’s European motorsport presence and boosts brand visibility, underscoring its ambition to combine technological progress with top-level sporting performance.

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Triangle Tyre released its 2025 Sustainability Report on 29 April 2026, marking the company’s second full public accounting of its environmental, social and governance performance. The document outlines progress across all three ESG pillars since the previous disclosure.

Over the past year, the Chinese tyre manufacturer achieved several international firsts following its stock market listing. Triangle Tyre earned the EcoVadis Gold Medal, becoming the first domestic tyre company to receive that recognition, and also joined the United Nations Global Compact along with the China Environmental Protection Foundation. These moves signalled deeper global engagement on ESG issues.

The company’s sustainability leadership gained further validation through multiple external honours. Triangle Tyre appeared in the 2025 China Corporate ESG Blue Book Case Studies and the 2025 China Corporate ESG 100 Index. The China Listed Companies Association additionally named it a best practice case for corporate sustainable development, underscoring its rising influence at home and abroad.

In line with national carbon peaking and neutrality goals, Triangle Tyre pushed forward with green manufacturing by adopting energy efficient technologies and clean production processes. Its 2025 energy performance earned a place on a national list of leading enterprises in key industry energy efficiency, published by three central ministries. The company achieved a two percent year on year reduction in comprehensive energy use while building a low carbon energy management system.

Sustainability efforts extend across the product lifecycle, including tyres for the new energy vehicle market that combine ultra-low rolling resistance with high load capacity to extend driving range. The company is also pursuing a circular economy target of recycling and reusing 100 percent of end-of-life tyres by 2050. Recognised as a 2025 Shandong Social Responsibility Enterprise and a longtime best employer, Triangle Tyre maintains a people centred workplace while supporting rural revitalisation, education and disaster relief.

The company further integrates ESG standards into its supply chain with a zero-deforestation commitment and sustainability criteria for supplier assessments. As China enters the first year of its 15th five-year plan, Triangle Tyre continues to rely on technological innovation to become a globally leading tyre manufacturer, aiming to deliver greener and safer mobility solutions worldwide.

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CarbonX has extended its strategic partnership with European LFP battery manufacturer ElevenEs into 2026. The new phase transitions from initial material validation to advanced industrial-scale testing, aiming to strengthen the local supply chain for LFP batteries across Europe.

As the only LFP Edge cell producer in Europe, ElevenEs supports the regional ecosystem by offering its EdgeLabs R&D infrastructure. This platform integrates CarbonX’s carbon-based anode material into full-scale prismatic LFP blade-type cells, where rigorous benchmarking against global standards validates performance, lifespan and safety.

By providing specialised services, ElevenEs acts as an industrial catalyst for CarbonX, helping the Dutch material innovator move from laboratory to market-ready applications. The cooperation is designed to result in a conditional offtake arrangement upon the successful achievement of technical milestones.

Nemanja Mikać, CEO, ElevenEs, said, “Our continued partnership with CarbonX demonstrates how ElevenEs acts as an industrial engine for the European battery ecosystem. We don’t just validate materials; we provide the manufacturing excellence and R&D infrastructure necessary to scale promising European technologies. ElevenEs experts team actively supports suppliers to build a resilient, energy-independent supply chain for the future.”

Rutger van Raalten, CEO, CarbonX, said, “Signing this agreement with ElevenEs marks a significant step forward for CarbonX and reinforces our shared commitment to building a resilient, sustainable battery materials ecosystem. Beyond strengthening our supply chain, this partnership contributes directly to Europe’s strategic ambition for energy independence, accelerating the transition to locally sourced, low carbon critical materials.”

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