First of all the negative growth had contracted sharply in the second quarter. Pandemic had brought the economy to a grinding halt in the first quarter and the economy collapsed by 24%, arguably the worst contraction in modern history. The contraction eased to 7.5% in the second quarter much less than the 9-11% projected by rating agencies and the analysts. More than that, several economic indicators pointed towards a turnaround.  Be it GST collections, sales of vehicles, industrial output or generation of e-way bills - all regained lost ground in the months of Oct and Nov’20, and some even surpassed the pre-pandemic levels.

It is also evident that corporate India has responded favourably to the Government’s stimulus measures. During the second quarter, sequential recovery from the first one was visible across sectors as the lockdown restrictions eased. Some sectors were even able to bounce back to pre-COVID levels and post revenue growth on an annual basis, confirms an ICRA report.

In this context, the performance of tyre industry offers interesting insights. As the process of unlock commenced and economic activities gathered momentum, tyre industry, though badly badgered during the lockdown,  worked incessantly, braving odds, to catalyse the economic momentum. Tyre production in India was up 17% in Sept’20 in comparison to Sept’19 levels. The production of Truck & Bus tyres, often celebrated as the wheels of the economy went up by significant 39% in Sept against the year ago period.

For years, the tyre industry has been asking for policy enablers to enhance exports from the country. Government has shown political will and has taken some far-reaching policy measures in aid of the industry having appreciated the pain areas coming in the way of its full blossoming.

The industry has responded to these policy initiatives in equal measure. Notwithstanding disruption in international trade following COVID-19 pandemic and protectionist stance being adopted by countries, Indian tyre industry managed to touch a figure of nearly Rs 6000 crore in exports in the first half of the ongoing fiscal year. Impressive export performance in the second quarter compensated for the sharp drop of 23% in tyre exports experienced in Q1 bringing the overall decline down to 7% in the first half of current fiscal.

Having fallen to a low of 26 thousand units of exports in the month of April this year in view of  the lockdown, Truck & Bus Radial (TBR) tyre exports have been on their way up and reached 1.85 lakh units in Sept, the highest ever monthly exports in the category so far.

The recovery in Passenger Car Radial tyres has been rather sterling. From 9 thousand units of exports in April, PCR tyre exports touched a figure of nearly 2 lakh tyres in Sept, again a historic high for the category.  The scenario is no different in case of Motorcycle tyre exports. The month of Sept recorded exports of over 2.5 lakh units, a feat rarely achieved so far.

Farm/ Agri tyre exports from India have witnessed an impressive double digit growth in the first half of FY21 notwithstanding the lockdown. The month of Sept'20 witnessed exports of 3.9 lakh units of Agri tyres, one of the highest marks ever achieved. Moreover, the tyre exports from India have been to some of the discerning markets in the world. US and Germany are the dominant markets for Indian manufactured Farm/Agri tyres accounting for over 30% share. The US has emerged as a major recipient of TBR tyres from India. More than one-third of TBR tyre exports from India were destined for the US during the first half of the current fiscal year..

Tyre industry may provide just one of the glimpses of India’s manufacturing prowess and its ability to rise to the occasion. Recently speaking at a conclave of country's management leaders organised by All India Management Association, RC Bhargava, Maruti Suzuki India Chairman, emphatically stated that India has the capability to become a lower cost producer than China if the industry and the government work together. He rightly argued that the only objective of government policies has to be to increase the competitiveness of Indian industry..

It is hoped that the process of revival of the economy will gather momentum despite the lurking fear of disruptions caused by COVID-19. Here is wishing everyone a very Happy and Safe 2021 .May the trials and tribulations cease in the New Year.

Bridgestone will supply tailored-made tyres for Lamborghini’s Huracán STO, which will be launched in 2021.

Bridgestone ensured the high-performance tyre can maximise the Huracán STO’s traction, handling, control, and extreme overall performance.

Key to the tyre’s success in maximising the super sports car’s performance is the combination of pattern and cavity design. The Potenza tyres apply an asymmetric tread design for enhanced steering response and cornering stability, and an internal crown structure that distributes footprint pressure evenly when cornering.

As well as the road-focused, custom-developed Potenza fitment, Bridgestone will also be providing a track-oriented, road-homologated version of the tyre that applies “race” technologies to maximise the vehicle’s track performance, especially in dry conditions.

Steven De Bock, VP Consumer Replacement and OE at Bridgestone EMIA, said, “It’s been a pleasure for our team to work so closely with Lamborghini for the first time, and on such an exciting project. The Huracán STO is an incredible piece of engineering that deserves a custom tyre that can fulfill its full potential. I can proudly say that Bridgestone has delivered such a high-performance tyre. It has been fantastic for the team to have worked on a project that is at the forefront of technology in so many ways.”

Hankook, one of the major global tyre brands, has started testing and development operations at its new ultra modern facility in Spain.

The testing facility has been set up on the premises of the Applus+ IDIADA Group and can also cater to European premium car manufacturers that have their own demanding tyre tests. The facility is completely automated and will host a 20-member team from the Spanish testing centre, which is affiliated to the Hankook Europe Technical Centre.

Klaus Krause, Head of European Research and Development Centre, said, "With the further expansion of our testing capacities in Spain, we are reaching the next level together with our local partner Applus+ IDIADA."

He also added, "We are confident that the newly installed testing facilities in particular will significantly improve our efforts to provide the best tyre testing conditions and services to our employees and customers. In addition, we will also be able to conduct significantly more tests on site." (TT)

ASCENSO introduced a construction tyre - BLB 730- which is used for boom lift vehicles used in construction and other industries. It comes with several features that cater to the unique needs of aerial lifting equipment.

The BLB 730 tyre is available in different sizes to fit various boom lift vehicles. This range of sizes provides versatility and compatibility with different types of aerial lift work platforms.

“ASCENSO's BLB 730 tyre is a significant advancement in specialised equipment for the construction industry. It focuses on load capacity, stability, traction, and durability to improve the performance and safety of boom lift vehicles. Whether working at heights or manoeuvring on tough terrains, this tyre offers reliability and durability for efficient operations,” said the company in a statement.

The BLB 730 tyre is built to handle heavy loads and stabilise boom lift vehicles. It has solid lugs and a more extended shoulder design, which ensures good traction and prevents slipping during operation. This is important for safely carrying heavy weights at high elevations. ASCENSO has used a special rubber compound in making the BLB 730 tyre, making it durable and long-lasting, resulting in less downtime and more productivity on construction sites.

To make the tyre even better, the company has optimised its inner volume to reduce tyre fill consumption, reducing the risk of tyre punctures, minimising the need for maintenance, and keep the vehicles running smoothly.

Falken Tyre Europe is an official IHF Men's World Championship 2023 partner for the upcoming tournament, the company has announced. The tournament is taking place at nine venues in Sweden and Poland from 11-29 January, 2023. Falken Tyre claims that the partnership was organised by the sports marketing agency SPORTFIVE. SPORTFIVE is responsible for exclusive marketing and media rights for all IHF World Championships until 2031.

Falken Tyre claims that this is its second agreement with the International Handball Federation. In addition to title and logo rights (Official IHF Men's World Championship 2023 Partner), the company has also secured advertising rights, including the Falken logo in each goal and centre circle of the courts, as well as the presence of Falken branding in the official tournament social media communications and print materials. According to Falken Tyre, this is complemented by 30-second video ads that will be shown on the big screens in the nine sports halls before the start of each match and at half-time.

Sharing his views, Robert Müller von Vultejus, Chief Growth Officer at SPORTFIVE, said, “With Falken, the IHF World Handball Championships have secured a great partner who is positioned with far-reaching influence in the relevant core markets. We are delighted to have been able to bring two global partners together for one of the most exciting sporting events of next year.”

Markus Bögner, COO and President of Falken Tyre Europe GmbH, explained, “Handball isn’t just of great importance in Europe, but all over the world, which has led us to partake in this top-level tournament once again. The fact that the international tournament is taking place in countries that are among our core markets is another great reason for our involvement. We can also look back on a long partnership with our colleagues at SPORTFIVE, who always offers us excellent opportunities that are an excellent fit for the Falken brand, which stands for enthusiasm, performance and achievement.”