Fortunately, the third wave of Covid pandemic proved to be a milder one with not much disruption to economic activities. The Union Budget presented last month with its growth-oriented agenda further boosted the sentiment. There is a set of numbers that paints a very encouraging picture of the economy. Foreign direct investment has touched record highs, exports are all set to breach the projected USD 400 billion mark during the current fiscal, GST collections have topped INR 1.30 trillion for fifth straight month and the start-up ecosystem in the country is scripting history.

However, there is a sense of unknown fears lurking around, leaving us with no room for complacency. While we can take solace in the fact that India continues to be the fastest growing large economy, uncertainty in the form of geo-political crisis is looming large on the horizon.

Much of what was feared as a follow-up of the war is already playing out in terms of worsening of the situation. Oil has breached USD 110 a barrel; equity markets have fallen and currencies weakened.

The impact of higher oil prices is going to last longer. Inflation, which has been within tolerance level, is raging its head again. If oil averages close to USD 100 a barrel for a prolonged period, the drag on GDP growth could be up to 0.9 percentage points, inflation could rise by around 1 percentage point and the current account deficit could widen by 1.2 percentage points, says the chief India economist of a leading MNC bank.

A finance ministry report has also admitted that recent geopolitical developments have introduced an element of uncertainty into the economic growth and inflation outlook. Russia's invasion of Ukraine has disrupted value chains and will hurt global and domestic recovery which was underway after the third wave of the pandemic. Worries over inflation and economic growth have surfaced against the backdrop of the turmoil in the global financial and commodity markets, it has stated.

Auto sector, particularly, is yet to come out of the slowdown. The continuing supply side challenges like semiconductor shortages, higher commodity prices and higher logistics cost were already providing headwinds to the industry. As the industry was on the cusp of recovery, Russia Ukraine war has queered the pitch as supply chains are expected to come under stress.

Auto industry is especially impacted in view of the Russia-Ukraine war as both the countries produce some of the key raw materials used in critical auto components such as semiconductors.

The shortage of semiconductors had hampered the production of vehicles, leading to prolonged waiting periods. If geo-political tensions continue for a longer period, it could have long term implications for the auto industry.

The crisis will spike the crude oil prices, which are poised to push up domestic fuel costs, increase the cost of ownership and hence dampen the consumer sentiments.

Commodity prices are already high, and there is a lingering worry that the government will soon hike the fuel prices, which will again have a huge inflationary impact on the overall manufacturing.

Tyre sector too has been bearing the brunt of slowdown in the auto sector. According to the latest data available, production of motorcycle, truck & bus and passenger car tyres – three large categories of tyres – declined by 29 percent, 21 percent and 2 percent, respectively, in the month of December.

There is no denying the fact that this is the time when prudent policies need to be pushed to support the growth amidst global political turmoil and the volatility in the financial markets. And we already have instances where enabling a policy framework has helped the industry win against all odds.

PLI scheme is one such initiative that has helped certain sectors including the auto industry immensely despite a challenging phase. Tyre Industry too has been a key beneficiary of curbs on indiscriminate import of tyres. The same has helped the industry meet the domestic requirements confidently and also cast a wider net in terms of exports. Tyre exports from India have gone up by 60 percent in value terms to reach a historically high figure of over INR 150 billion in the first three quarters of FY22 against the year-ago period. The figure is much higher than the value of tyres exported in the entire FY21 at INR 140 billion.

It is sincerely hoped that geo-political crisis will blow over soon and the political will of the current dispensation towards continuing reforms combined with enterprising zeal and innovative approach of the industry will help overcome the supply chain constraints for India to enjoy its rightful place in the sun.

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Nokian Tyres gathered nearly 100 workshop representatives from five partner companies at the Hakka Ring, its year-round testing facility in Santa Cruz de la Zarza, Spain, to highlight its latest advances in all-season tyre technology and exchange views on market trends and industry challenges. The company said the test center, designed for all-weather performance evaluation, reflects its focus on safety, performance and sustainability throughout the year.

During the event, Iberia Country Manager Luis Miguel Cabanas presented brand updates, new product developments and future strategic direction. Partners were given the opportunity to drive the Seasonproof 2, the company’s newest all-season flagship tyre. Manufactured at Nokian Tyres’ zero carbon emissions factory in Romania, the Seasonproof 2 has been independently tested and verified by TUV SUD, Tyre Reviews and WhatTyre, and utilises up to 38 percent renewable, recyclable and ISCC PLUS–certified materials.

The tyre features the company’s latest innovations aimed at improving traction, precision and efficiency in varying conditions including technology designed to balance summer handling with winter grip, adaptive tread design for better performance in changing weather and a new compound optimised for durability, wet grip and fuel economy.

The event culminated with high-speed test runs on the 7-kilometre oval circuit with 40-degree banked corners, providing what the company described as an impressive demonstration of speed, control and overall driving performance. Nokian Tyres said the showcase strengthened relationships with key partners and reinforced its commitment to leading sustainable innovation in the all-season segment.

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Nokian Tyres gathered nearly 100 workshop representatives from five partner companies at the Hakka Ring, its year-round testing facility in Santa Cruz de la Zarza, Spain, to highlight its latest advances in all-season tyre technology and exchange views on market trends and industry challenges. The company said the test center, designed for all-weather performance evaluation, reflects its focus on safety, performance and sustainability throughout the year.

During the event, Iberia Country Manager Luis Miguel Cabanas presented brand updates, new product developments and future strategic direction. Partners were given the opportunity to drive the Seasonproof 2, the company’s newest all-season flagship tyre. Manufactured at Nokian Tyres’ zero carbon emissions factory in Romania, the Seasonproof 2 has been independently tested and verified by TUV SUD, Tyre Reviews and WhatTyre, and utilises up to 38 percent renewable, recyclable and ISCC PLUS–certified materials.

The tyre features the company’s latest innovations aimed at improving traction, precision and efficiency in varying conditions including technology designed to balance summer handling with winter grip, adaptive tread design for better performance in changing weather and a new compound optimised for durability, wet grip and fuel economy.

The event culminated with high-speed test runs on the 7-kilometre oval circuit with 40-degree banked corners, providing what the company described as an impressive demonstration of speed, control and overall driving performance. Nokian Tyres said the showcase strengthened relationships with key partners and reinforced its commitment to leading sustainable innovation in the all-season segment.

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Hankook Tire and Technology reported consolidated revenue of KRW 5.4127 trillion and operating profit of KRW 585.9 billion for the third quarter of 2025, the company said in a statement.

Tyre business sales rose 11.2 percent year-over-year to KRW 2.7070 trillion, while operating profit climbed 10.4 percent to KRW 519.2 billion, marking the company’s highest-ever quarterly performance.

Hankook attributed growth to stronger demand across global replacement and OE markets and a rising mix of high-inch tyres. Lower raw material and logistics costs helped cushion the impact of US automotive parts tariffs.

Hanon Systems, which has been fully consolidated into Hankook Tire’s results since the first quarter, generated KRW 2.7057 trillion in revenue, up 8.2 percent from a year earlier. Operating profit reached KRW 95.3 billion, an increase of 1.7 percent year-over-year and 48.2 percent quarter-over-quarter.

High-inch (18 inches and above) passenger car and light truck tyres accounted for 47.4 percent of segment sales in the quarter, up 2.6 percentage points from a year earlier. EV tyre sales represented 27 percent of the total, a 7-point increase year-over-year.

Hankook continued expanding OE fitments for premium EVs, citing supply agreements for the Porsche Macan, Xiaomi YU7, BMW iX, New i4 and New X3. The company now equips about 50 global automotive brands across more than 290 models.

Hankook’s EV-focused iON line-up and Ventus performance range won EV Tire of the Year and Performance Tire of the Year at the UK-based WhatTyre Awards, reinforcing its technology leadership.

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GRI is preparing to showcase the latest developments in its agricultural line-up with a special event scheduled for Monday, November 10, 2025, just before Agritechnica opens in Hanover.

The company said in a statement that the event will mark a significant step in its innovation and expansion strategy with new products designed to offer greater strength, performance and sustainability in the agricultural sector. Attendees will have the chance to engage with GRI’s leadership, partners and industry peers as the company outlines its vision for the future of farming.

The company, in partnership with Grasdorf GmbH, will unveil its expanded European strategy and German market entry at Agritechnica 2025. The event, titled 'Growing From Strength to Strength', will showcase new collaborations, technologies and sustainable solutions for agriculture.

Speakers include GRI Director of Europe Giorgio Gramegna and Grasdorf Managing Director Joachim G. Wolf among others. Presentations will focus on innovative product launches, technical advancements and partnership-driven models aimed at enhancing agricultural performance and sustainability.

The announcement underscores GRI’s commitment to its growth in Europe, cementing its role in shaping the future of agricultural innovation and market trust.

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