Vijay C Roy
Tribune News Service
Chandigarh, January 6
Are you planning to buy a high-end bicycle? There are chances that you might have to wait for three to four months. The shortage of raw material and components is hindering production of high-end bikes.
The industry is reeling under severe shortage of critical components such as gear assembly due to supply chain disruptions post-pandemic, import restrictions from China followed by the freight train obstruction in Punjab, thus impacting the production.
According to estimates, India imports bicycle parts worth over $70 million annually and in past few years, its dependence on China has increased significantly. As many components required for high-end bicycles are currently not available in India, the manufacturers rely heavily on China.
Major hurdle to fulfil surging demand
The shortage of raw materials and critical components is turning out to be a major hurdle to fulfil the demand. We urge the government to provide support to the bicycle industry to overcome these challenges. Pankaj M Munjal, Chairman and Managing Director, Hero motors company
“On the one hand, we are witnessing a surge in demand, on the other hand, the shortage of raw materials and components is turning out to be a major hurdle for bicycle manufacturers. We urge the government to provide support to the bicycle industry to overcome these challenges,” said Pankaj M Munjal, CMD, Hero Motors Company.
The industry has sought support from the government for localised component manufacturing and reducing dependence on foreign supplies, particularly from China.
According to the manufacturers, to reduce import dependence, diversification and setting up localised component manufacturing is the key. The sector requires R&D and innovation to make these parts.
Don't MissView All
Scrapping of NJAC Bill by SC severe compromise of parliamentary sovereignty: Jagdeep Dhankhar in maiden speech in Rajya Sabha
‘Democracy flourishes when legislature, judiciary and execut...
AAP wins 134 of 250 wards, BJP 104; Congress reduced to just...
It will all depend on who can hold the numbers in a close co...
Terming the Indian economy a bright spot in the otherwise gl...
Results will determine if AAP will become a national party