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.

Bridgestone Corporation (Bridgestone) has been selected once again to continue as a constituent of three internationally renowned environmental, social and governance (ESG) indexes: the MSCI ESG Leaders Indexes, the FTSE4Good Index Series and the Dow Jones Sustainability World Index (DJSI World).

Bridgestone has been a part of the MSCI ESG Leaders Indexes for two years in a row since 2023, the DJSI World for three years in a row since 2022 and the FTSE4Good Index Series for seven years in a row from 2018. Bridgestone's specific Mid Term Business Plan (2024-2026) has been steadily implemented, putting sustainability at the centre of its operations. The company's 2020 vision and Mid-Long Term Business Strategy served as the foundation for the plan.

According to the company statement, “Setting forth the vision of ‘Toward 2050, Bridgestone continues to provide social value and customer value as a sustainable solutions company’, Bridgestone links its business to the realisation of carbon neutrality, a circular economy and nature positivity across the entire value chain. From the ‘produce and sell’ phase and the ‘use’ of its products through to their ‘renewal’ to raw materials, Bridgestone aims to build a foundation for creating sustainability value.”

The following initiatives have contributed to Bridgestone's inclusion in these indexes:

• Contributing to a circular economy and attaining carbon neutrality by using ENLITEN technology to make tyres from recycled and renewable resources, using BCMA and switching to ‘Green & Smart’ manufacturing at Bridgestone locations to increase resource productivity and energy efficiency.
• Encouragement of nature positivity through initiatives for the sustainable use of water resources and natural rubber that are closely related to the commercial operations of the firm, including strengthening assistance for natural rubber smallholders.
• Strengthening of a thorough structure and procedure for human rights due diligence that aims to identify, mitigate, avoid and disclose human rights concerns.
• Visualisation and disclosure of the impact of social contribution actions that are in line with the global goals.

German automotive company and tyre major Continental has been added another feather to its cap with bagging the ‘Tire Manufacturer of the Year’ at this year’s Tire Technology International Awards for Innovation and Excellence at this year’s Tire Technology Expo.

With this, Continental becomes the only tyre maker to have won two concurrent awards – Tire Manufacturer of the Year and Environmental Achievement of the Year – Manufacturing. The company’s Lousado facility in Portugal was also recognised for manufacturing tyres CO2-neutrally since last year.

Edwin Goudswaard, Head of Research & Development, Continental Tires, said, "We are especially proud to be the only manufacturer to be honoured twice at the Tire Technology Awards in an extremely competitive field. Both awards highlight our strong commitment to sustainable tire development and manufacturing. In such a highly competitive market, this success demonstrates our innovative prowess and our ability to actively shape the future of the industry."

Interestingly, this also marks it the fourth time that the German company has bagged the Tire Manufacturer of the Year award. The awards took into consideration tyre makers globally and were evaluated by a jury of 27 independent industry experts.

Going forward, Continental has outlined its ambition to switch all of its tyre plants to fully carbon-neutral production processes by 2040 at the latest.

Hankook Tire & Technology (Hankook Tire) has appointed Jongseon Ahn and Sanghoon Lee as Executive Directors and new Co-CEOs, following a resolution passed at the Annual General Meeting and Board of Directors meeting held on 26 March.

Ahn will be in charge of Hankook Tire's global innovation, R&D, procurement, production and quality, while Lee will be in charge of global sales and marketing initiatives to strengthen the premium positioning of the company's unified global brand, Hankook, as well as the supply of original equipment (OE) tyres for new vehicles. In addition to the leadership nominations, shareholders approved all eight agenda items at the Annual General Meeting, including the approval of the consolidated financial accounts, partial revisions to the Articles of Incorporation and director appointments.

Ahn has extensive leadership expertise and a proven track record of advancing technology innovation in the operational holding firm, Hankook & Company. He oversaw general management and spearheaded innovative initiatives in 2021 while serving as COO of Hankook & Company and Head of ES (Energy Solution) Business Headquarters. He became the CEO in 2022 and oversaw the company's expansion of premium Absorbent Glass Mat (AGM) battery sales into important international markets, which greatly increased profitability and strengthened the company's platform for long-term success.

Lee's vast worldwide leadership experience serves as the foundation for his profound understanding of marketing and global sales strategy. He has held important regional leadership positions in China and Europe since 2018, during which time he has played a crucial role in bolstering the company's premium brand positioning internationally and continuously promoting creative business performance, both of which have greatly increased revenue. At the conclusion of last year, he was nominated as Hankook Tire's Co-CEO due to his success and leadership.

Sri Lanka-based speciality tyre manufacturer GRI (Global Rubber Industries) has won the prestigious Material Handling Industry (MHI) Innovation Award for Best Innovation in Sustainability at ProMat 2025, held in Chicago, USA. The company’s premium plus ULTIMATE GREEN XT tyre has been honoured as the world’s most sustainable material handling tyre made with 93.5 percent sustainable materials.

This solid material handling tyre, which was designed and produced at GRI's state-of-the-art production facilities in Sri Lanka, combines energy-efficient production methods, environmentally friendly raw materials and outstanding performance to lessen its impact on the environment and increase productivity for companies all over the world. The award follows a thorough evaluation procedure in which the most innovative developments influencing the future of material handling were evaluated by a prestigious panel of industry executives, technical specialists and sustainability advocates. In addition to being a success for GRI, this result demonstrates Sri Lanka's increasing influence in the global manufacturing sector and reaffirms the nation's capacity for high-quality, sustainable production.

Prabhash Subasinghe, Managing Director, GRI, said, “This award is not just a recognition for GRI – it is a moment of pride for Sri Lanka, showcasing our ability to lead in sustainable industrial solutions. The ULTIMATE GREEN XT is a Sri Lankan innovation making a difference on the global stage, reinforcing our belief that sustainability is not an option – it is a responsibility. At GRI, we always think of the next generation and strive to grow for generations to come. We dedicate this achievement to the passionate and hardworking people of Sri Lanka, whose expertise and dedication made this possible.”