Bicycle sales grow 2.4% in 2023-24
Vijay C Roy
Tribune New Service
CHANDIGARH, APRIL 16
Amid a surge in demand, India’s bicycle industry pedalled to a marginal increase in sales of 2.40 per cent in the last financial year.
The All-India Cycle Manufacturers’ Association (ACMA) data shows the total bicycle sales touched 1,06,71,582 units in 2023-24 compared to 1,04,20,843 units in 2022-23. The increase in sales was mainly on account of increase in demand for roadster and kids bicycles. On the contrary, the demand for bicycles in fancy segment and exports declined in 2023-24 compared to 2022-23.
Though there is a huge potential in the domestic market, in the last few years the share of the unorganised sector has increased and eaten into the share of the organised sector. “If we consider the data, the sale of the organised sector is stagnated at around 1.1 crore units annually taking into consideration the average of three years. While the sale of unorganised sector would be anywhere between 50-60 lakh,” said KB Thakur, secretary general, ACMA.
With more than 60,000 cycles manufactured every day, Ludhiana is the hub of bicycle manufacturing in India. Ludhiana accounts for 75 per cent of the country’s total bicycle production and 92 per cent of bicycle parts’ manufacturing. “Several units in the unorganised sector are selling non-standard bicycles openly, flouting the safety standard. This has hampered the sales of the organised sector,” said Charanjit Singh Vishwakarma, Chairman, United Cycle and Parts Manufacturers Association.
