Ludhiana, January 23
The bicycle industry is passing through a recessionary phase and the Central or state governments have failed to address the issue, claimed industrialists.
Avtar Singh Bhogal from Bhogalsons said the greatest threat to the cycle industry is from China. “China is sending under-billed parts and products. Many of the small time dealers on Gill Road have having the bill of Rs 1,300 per cycle whereas the gear-changer alone is priced at Rs 2,000. How can we compete with them in this tax evasion? We have submitted memorandums to the government too and hope that in this upcoming budget, steps will be taken by the Indian government to save the bicycle industry,” he said.
Former president of United Cycle Parts Manufacturers Association (UCPMA) Charanjit Singh Vishkarma said there are 2-3 major issues, which should be addressed in the Union Budget. “The major threat is from China. Bicycle parts which are manufactured here should be banned from China. Secondly, the GST on bicycle should be reduced to 5 per cent instead of 12 per cent. The issue of reflectors is there, we should be given little breather as now in the recessionary phase, putting extra money on reflectors would not be viable,” said Vishkarma.
FICO general secretary Rajiv Jain said, “The government should provide special subsidies for MSMEs to promote Make in India products. The entire bicycle industry wants hike in import duty.”
Most Read In 24 Hours
Don't MissView All
Turkey-Syria earthquake death toll rises to 2,300; video shows building collapsing like house of cards
Hundreds are still believed to be trapped under rubble, and ...
Govt reaches out to Opposition to end Parliament logjam over Adani issue, both Houses may start functioning from Tuesday
Chances of Parliament taking up a discussion on Motion of Th...
Turkey earthquake: Days ago, ‘researcher’ predicted powerful temblor will hit region; his old tweet is viral now
Frank Hoogerbeets describes himself one having ‘utmost respe...
Will be produced before the competent court in Mohali on Tue...
Supreme Court agrees to hear plea against appointment of lawyer LCV Gowri as Madras High Court judge
Some purported statements of the lawyer, allegedly against M...