In the absence of technology, the cycle industry is slowing down again and again. It can be estimated from this that in 2001, 1.31 crore bicycles were produced in India and 5.5 crore in China. Today, production in China has crossed 17 million units annually. However, after a long gap of 19 years, this figure has reached only 1.75 crore in India. In this also, more than 50 lakh bicycles are being purchased by various state governments under tenders to give to school students. Apart from this, imports of bicycles and parts from abroad are increasing. The imports of bicycles and parts have been around Rs 2,200 crore in the year 2018-19. Statistics show that imports are eating up the growth of the domestic bicycle market. In addition, as a result, the domestic market for the bicycle industry is also slipping like sand with a fist. Bicycle entrepreneurs have demanded that a special package be given in the budget to encourage bicycles.

Apart from this, measures should be taken to increase the technology. A level playing field should be released for the industry, which can compete with the challenges of the market. Entrepreneurs argue that Ludhiana is a stronghold of the bicycle industry. There are about 4,500 units of bicycle and parts here. The annual turnover of the bicycle industry is more than 7000 crores. More than 95 percent of the units are set up in micro, small and medium sector. Due to lack of resources, small units are unable to match the market. According to data from the Federation of Indian Export Organizations (FIEO), the import of bicycles and parts in the country was valued at $ 217 million (about Rs 1,541 crore) in 2017-18, which increased to $ 219.99 million (about 1,562) in 2018-19. Crore rupees).

Similarly, the export of bicycles and parts was $ 25.38 million (about Rs. 1,802 crore) in the year 2017-18, which increased to $ 30.14 million (Rs. 2,140 crore) in the year 2018-19. Wheels, rims, spoke, hubs, brakes, paddles and saddles are being imported more in addition to bicycles. In the absence of technology, high-end bicycle parts are imported by Head of Bicycle Manufacturers Association and CMD of Highbird Cycles RD Sharma. It is said that the market of high-end bicycles is increasing in the changing times. However, due to lack of technology, most high-end bicycles and parts are being imported. For this the industry needs world class technology. In such a situation, the government should provide facilities and subsidies to encourage technology. To overcome the shortage of funds in the MSME sector, banks can be instructed to provide loans to the industry on easy terms. Apart from this, more incentives should be given to increase exports.

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