India News | Mandatory Minimum Standards, Upgrading Technology Among Five Turnaround Areas of Bicycle Sector, Says Industry

Chandigarh, Apr 2 (PTI) Ludhiana-based Bicycle manufacturers have identified five turnaround areas, including migrating from voluntary to mandatory minimum standards of bicycles and upgrading technology, to boost one of the oldest industry verticals.

Ludhiana in Punjab manufactures 90 per cent of the country's bicycles.

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According to a joint statement of the All India Cycle Manufacturers' Association (AICMA) and United Cycle and Parts Manufacturers Association (UCPMA) issued on Sunday, the industry ever since the country's independence has grown to 4,000 micro and large units with 10 lakhs employment.

It holds the second largest position in volume with around 20 million bicycles per annum. However, with the global trends, the bicycle demand has shifted from heavy (steel) to lighter bicycles and high premium components like multi-gear, disc brakes and suspension, it said.

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In this transition of premium, bicycles demand vis-a-vis need for their indigenous supply, India is becoming increasingly import dependent, it said.

"This is gradually reducing India's manufacturing dominance. Further, the emergence of unhealthy competition by resorting to cost-cutting malpractices particularly affecting the quality of the product to the end consumer is creating an alarming situation for the sustenance of the Indian bicycle industry,” said the statement.

It said the industry, therefore, urgently needs comprehensive, concurrent and continuous efforts for not only safeguarding the existing capacities and investment, micro, small and medium enterprises (MSME) and employment but also leapfrogging to the next generation of technology and quality with commensurate eco -system.

This would create multiple business opportunities for all including micro-units, generate employment, and spur allied industry and service sectors and additional revenue to the governments.

They said the turnaround areas included empowering MSMEs through hand holding, migrating from voluntary to mandatory minimum standards of bicycles and parts, upgrading company-level technology through production-linked incentives support as a viability gap funding, creating world-class testing and certification and building safe cycling infrastructure in 8,000 cities and towns.

"These turnaround areas are expected to result in the transformation of the Indian bicycle industry to the Atmanirbhar level,” said the statement.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)