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.
CarbonX Appoints Rohan Patel To Advisory Board
- By TT News
- January 16, 2026
CarbonX has appointed Rohan Patel to its Advisory Board, gaining a distinguished strategist at a crucial phase of the company’s growth in sustainable battery materials. His profound understanding of regulatory frameworks and supply-chain strategy will directly support CarbonX’s collaborations with major cell manufacturers and its expansion of local, scalable production.
Patel’s career spans top-tier leadership in industry and government. He previously served as Vice President of global public policy and business development at Tesla, where he was part of the executive leadership team. Prior to his work in the private sector, he was a special assistant to the President and a senior advisor for climate and energy during the Obama Administration, shaping pivotal transportation and power sector policies while coordinating with state and local officials. His earlier contributions include roles at the White House Council on Environmental Quality and staff positions for political campaigns and elected officials.
Currently residing in Kensington, Maryland, Patel consults for global companies and nonprofits dedicated to decarbonisation. His appointment equips CarbonX with essential guidance for navigating complex policy landscapes and strengthening value chains in both the United States and European markets.
Rutger van Raalten, CEO, CarbonX, said, “With Patel’s extensive experience in global policy and deep understanding of Electric Vehicle and US regulatory landscapes, his guidance will be invaluable as we establish ourselves as a supplier of quality materials into US Giga factories and navigate US policy, battery-manufacturing regulations and emerging tariff frameworks.”
Patel said, “The team is strong, the technology is proven, US capacity is established and Tier-1 cell manufacturers in the US are taking notice. CarbonX’s disruptive supply-chain solution arrives at exactly the right time. Strengthening domestic supply chains for critical battery materials is essential, and I am pleased to support CarbonX’s mission to deliver local, scalable and sustainable solutions.”
Goodyear Appoints David Cichocki For Key Americas Leadership Role
- By TT News
- January 16, 2026
The Goodyear Tire & Rubber Company has appointed David Cichocki to the dual role of Managing Director for the Americas and Chief Sales Officer for the Americas Consumer business, effective 19 January 2026. He will report directly to CEO and President Mark Stewart. In these positions, Cichocki is tasked with enhancing sales execution and driving profitable growth for the consumer division across the region. His broader regional leadership duties will focus on strategic governance, operational excellence and ensuring financial performance aligns with Goodyear's global objectives.
Cichocki joins Goodyear with over 30 years of commercial expertise from prominent consumer and industrial brands. He previously served as Senior Vice President of US Sales at Whirlpool Corporation, where he managed a multi-billion dollar North American consumer business spanning several key sales channels. Prior to that, he held numerous senior roles during a more than 20-year tenure with Kraft Foods and Nabisco.
Mark Stewart, CEO and President, said, "Throughout his career, David has built high-performing teams and delivered strong, sustainable results through customer-centric, brand-driven strategies. His experience leading large organisations through transformation – including simplifying portfolios, modernising go-to-market models and designing sales strategies for profitable growth – closely aligns with the changes we are making at Goodyear to drive long-term success for our company and our customers."
Marangoni Strengthens OTR Team With Two Key Appointments
- By TT News
- January 15, 2026
Marangoni has reinforced its OTR division as of January 2026 with the key hires of Eduard Mundt and Dominik Hörmann. Mundt will apply his extensive technical knowledge and industry experience to serve and build partnerships with OTR customers across Southern Germany. Hörmann, an expert in both OTR and TBR segments with specialised retreading knowledge, will oversee operations in Northern, Central and Western Germany, supporting the core OTR business and segments of the TBR market.
This strategic expansion underscores the company’s commitment to deepening its local engagement with both dealers and end users. By enhancing direct customer relationships and fortifying its regional footprint, Marangoni aims to solidify and sustainably grow its standing in the market.
Nokian Tyres Appoints Timo Koponen As New CFO
- By TT News
- January 14, 2026
Nokian Tyres has named Timo Koponen as its incoming Chief Financial Officer and a member of the Management team. He is scheduled to assume the role by 15 April 2026 and will report directly to President and CEO Paolo Pompei. The company’s interim CFO, Jari Huuhtanen, who serves as VP of Group Business Control, will continue in that capacity until Koponen officially begins.
Koponen brings extensive financial and executive experience to Nokian Tyres, most recently serving as the CFO and a member of the Leadership Team at Normet, a prominent global provider of mining and tunnelling technology. His professional background includes a series of senior roles in finance and business leadership across several industrial corporations. Before his tenure at Normet, he held significant positions at Lamor Corporation, Wärtsilä, Hackman and Konecranes.
Koponen holds degrees in Master of Science in Economics and Business Administration. His appointment is part of Nokian Tyres' strategic leadership planning, ensuring a structured transition in its financial leadership.
Paolo Pompei, President and CEO, Nokian Tyres, said, “I am pleased to welcome Timo Koponen to Nokian Tyres. His extensive experience in finance and operations within publicly listed companies, combined with his leadership in international business and major transformations, will be a valuable asset as we move into the next stages of our development. I also want to express my sincere gratitude to Jari Huuhtanen for his outstanding contribution as interim CFO and his role as a strong partner in our transformation. I look forward to continuing our journey together with Jari as a key leader within Timo’s team.”
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