If the phrase was heavy, the package was heavier still. As big as Rs 20-lakh crore (with thirteen zeroes) package was announced by the Government for a self-reliant India. The package intends to help the country tide over the all-round economic disruption caused by the raging Covid-19 outbreak and a series of lock-downs. Besides the economic stimulus package which is 10% of India's GDP, PM also made a pitch for promoting local businesses.
As was the plan, the next few days witnessed Finance Minister Nirmala Sitharaman unveiling a slew of measures with the intention to help the Indian economy recover from the adverse impact of the coronavirus crisis. While the jury is still out about the direct stimulus of the economic package for the corporate sector, certain transformational and structural reforms have been introduced across several key areas, which certainly hold the potential to rebuild the Indian economy and pave the way for a sustained economic revival.
These include radical reforms in agricultural sector, redefinition of the micro, medium and small enterprises (MSMEs), key steps to revitalise the power sector, liberalisation of the coal and mining sectors and raising of the foreign direct investment (FDI) limit in defence manufacturing. These reform measures tried to address key pain points of the economy and to contribute towards enhancing India’s global competitiveness at a time when the world stands at a critical turning point.
However, what exactly Aatma Nirbhar means has been a subject of intense debate. Two leading lights that have been at the helm of affairs of Indian industry have shed appropriate light to make it sound cogent.
Amitabh Kant, the celebrated CEO of NITI Aayog made it very clear when he said Aatma Nirbhar Bharat is all about making India self-reliant to take the global competition head-on by achieving cost competitiveness through size and scale, quality and cutting edge technologies.
Achieving such lofty ideals is easier said than done and necessitate whole lot of policy enablers many of which have been cited by Kant himself including the need to provide industries with regular and cheap supply of power to boost competitiveness, identifying large land banks and equipping them with infrastructure, easing labour laws, timely land acquisition, environmental & other clearances and easy credit.
Some measures need special mention for instance efficiencies in the logistics sector - India’s port turnaround time is around 60 hours against that of China’s 20 hours and Korea’s 12 hours.
Union Minister for Commerce & Industry Mr Piyush Goyal hit the nail on the head when at Digital Summit organised by CII, he stated (through video conferencing of course) that Aatma Nirbhar Bharat was not just about greater self-reliance but also engaging with the world from a position of strength. India should be seen as a dependable partner and reliable friend in the world market, particularly when the global supply chains are undergoing a rejig, he stated. He specifically mentioned that India had a huge opportunity to promote indigenous production in the auto component sector.
And that brings us to India’s tyre sector which has been a less celebrated manufacturing success stories. As has been communicated earlier, a big chunk, nearly 20% of the domestic tyre production is exported to over 100 countries in the world. And these include discerning ones such as US and European countries. India has potential to increase exports of tyres significantly since domestic capacity is ahead of the demand curve. The quality of Indian made tyres is well established and that’s an added advantage when it comes to exports.
There is little doubt that Covid-19 has pressed the reset button and is likely to lead to a change in the world order. Perhaps that thought spurred the PM to state “Today it is the need of the hour that India should play a big role in the global supply chains”.
Tyre Industry is well aligned with the Government in its stated mission. However as shown by China, it is important to encourage domestic value addition by minimizing the raw material uncertainty and uncompetitive prices. For a sector like Tyre Industry, that will be true Aatma Nirbharta.
- Himadri Speciality Chemical
- International Sustainability and Carbon Certification
- ISCC Plus
- Anurag Choudhary
Himadri Speciality Chemical’s Hooghly Plant Gets ISCC PLUS Certification
- By TT News
- August 28, 2025
Kolkata-based Himadri Speciality Chemical has announced that its flagship plant in Mahistikry, Haripal, Hooghly, has received ISCC PLUS (International Sustainability and Carbon Certification).
The company has been recognised for its ecological and social responsibility, along with compliance with stringent criteria on greenhouse gas emission reduction, ecosystem protection, social accountability and complete traceability of raw materials.
Anurag Choudhary, CMD & CEO, Himadri Speciality Chemical, said, “Achieving ISCC PLUS certification marks a defining step in Himadri’s sustainability journey. It validates our determination to integrate renewable, low- carbon, and circular solutions into every layer of our operations. As global industries shift towards sustainable value chains, Himadri is leading this transformation—delivering innovative and responsible solutions that create long-term value for society, the environment, and our stakeholders worldwide.”
With this recognition, the company joins a number of global players who are driving systemic change towards responsible sourcing and production.
George Varughese, Founder Of Midas Retreading Materials, Passes Away
- By TT News
- August 28, 2025
George Varughese, founder of General Rubbers and the man behind the iconic Midas brand of tyre retreading materials, passed away on 28th August, 2025.
Varughese established General Rubbers in 1969, building Midas into India’s most recognised name in retreading materials. Under his leadership, the company has grown into a global player, supplying more than 24,000 tonnes of tread rubber, precured tread rubber and other products annually. Today, Midas serves customers across South America, Africa, Europe and Australia.
Known for his vision and emphasis on innovation, Varughese placed research and development at the heart of Midas’s success. His commitment to improving compound formulations with the latest technology ensured the brand’s reputation for durability and reliability.
With operations centred in Kottayam, Kerala, Midas continues to expand its dealer network, reflecting Varughese’s lifelong mission of accessibility and customer service.
Varughese leaves behind a lasting legacy in India’s tyre industry, remembered as a pioneer who transformed the retreading sector into a global business.
Vaculug Appoints Nick Hermitage As Operations Manager – OTR South
- By TT News
- August 28, 2025
Vaculug has named Nick Hermitage as Operations Manager – OTR South, following a significant expansion in its OTR Division.
The company's new OTR Centre of Excellence in the South East will serve as Hermitage's headquarters. He is in charge of making sure the depot runs smoothly, which includes daily administration, logistics, foam filling and tyre pressing. Hermitage brings with him a depth of experience, knowledge and skill – accumulated over 22 years in the tyre industry.
Alan Robin, National Account Manager – OTR, Vaculug Technologies Ltd, said, "This is an incredibly exciting time at Vaculug, and we are fortunate to welcome Nick to the OTR team. His extensive experience and deep knowledge of both OTR and solid tyre operations will be instrumental as we build on our significant investments in the division. I am confident Nick will make a strong contribution to our growth and I wish him every success in his new role."
Hankook Tire Europe Appoints Richard Bezzant As Truck And Bus Marketing Director
- By TT News
- August 27, 2025
Hankook Tire Europe GmbH has appointed Richard Bezzant as the new Marketing Director Truck and Bus with effect from 1 August 2025.
The British-born marketing and sales expert started his career with Michelin in UK in 2003. He brings with him more than two decades of experience in the tyre business for buses and trucks. Following a five-year period in leadership roles in France, he most recently served as Marketing Director for UK and Ireland, where he was responsible for developing and managing the complete marketing strategy across all business divisions.
Bezzant said, “My goal is to support growth opportunities for Hankook in the European truck and bus sector and expand them further. I am confident that we will be able to build on what has been achieved so far and continue to expand the business with innovative products and services. I am glad to be working with a great team to pursue our goals.”
Jang Hyuk Moon, Vice President – Marketing Department, Hankook Tire Europe, said, “With Richard Bezzant, we have appointed an industry-leading expert for our truck and bus marketing activities. With his decades of experience, we will consistently expand our business in the commercial vehicle sector and strengthen our market position in Europe in the long term.”
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